The gross value of output in agriculture hit 1.8 trillion in 2018, according to the quarterly reports of the Philippine Statistics Authority. The 4th quarter of 2018 contributes PhP 521.2 billion, higher by 4.05 percent than the previous year’s level.
Output in agriculture according to sectors
Accordingly, increases in production were registered by coconut, banana, pineapple, coffee, mango, tobacco, abaca, mongo, tomato, onion, cabbage and rubber. At current prices, the value of crop production amounted to PhP 295.4 billion, 2.19 percent higher than the previous year’s record. On an annual basis, crops production posted a 0.98 percent drop in 2018.
However, Palay production declined by 2.20 percent while corn production grew by 10.82 percent.
For livestock industry, went up by 1.89 percent in 2018. It contributed 17.74 percent to the total agricultural production. Carabao, hog and dairy came up with output gains during the fourth quarter of 2018. At current prices, the value of livestock production reached PhP 91.9 billion.
Poultry and Fisheries
On the other, poultry production expanded by 5.75 percent while fisheries declined by 1.13 percent.
Farm Gate Prices
On the average, prices received by farmers increased by 2.22 percent. Price increments were noted for crops at 1.94 percent, livestock at 5.69 percent and fisheries at 7.80 percent while poultry recorded an average drop of 4.91 percent. From January to December 2018, farmgate prices went up by an average of 5.62 percent.
Report written by: Philippine Statistics Authority