Agri, fisheries output further contract in Q3

The country could miss its target growth rate for the agriculture and fisheries output this year after a prolonged dry spell and devastating typhoons dragged down local production in the third quarter to its steepest decline in 15 months.

-  JASPER EMMANUEL ARCALAS

The Philippine Statistics Authority (PSA) said the value of farm and fisheries output (at constant 2018 prices) from July to September declined by 3.7 percent to P397.43 billion due to lower production of crops, livestock and fisheries.

It was the second straight quarter that agriculture and fisheries output declined. The recorded drop in value was also steeper than the 0.2-percent dip in the third quarter last year, according to the PSA.

The value of crop production, which accounts for half of the overall agriculture output, declined on an annual basis by 5.1 percent. The crops sector has contracted for three straight quarters already.

Livestock output fell by 6.7 percent year-on-year while fisheries production contracted by 5.5 percent.