Piñol sees higher farm output in Q4
MANILA, Philippines – The country’s agricultural sector will likely sustain its upward trend as it is seen to grow by four percent in the last quarter of the year, driven by higher rice and corn output.
“I think we might hit around four percent in the fourth quarter. This will be driven by crops (sector) and the opening of the Chinese market,” Agriculture Secretary Emmanuel Piñol said Monday.
After three consecutive quarters of negative output, the agricultural sector picked up pace in the third quarter, rising by almost three percent from a year ago.
Farm output rose 2.98 percent but still slid 1.53 percent during the nine-month period due to weakness in the first two quarters.
Piñol, however, admitted the positive performance in the second half might not be enough to take up the slack in the first two quarters of the year.
“For full year, we will not be able to overcome the negative (output) in the first two quarters. I think we will just break even,” he said.
In 2015, the farm sector posted flat growth in volume as it rose by a measly 0.11 percent.
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