DA sees rebound in farm production

FARM output will likely bounce back in the last quarter of 2023 due to favorable weather conditions, a senior Agriculture department official said on Monday.

«Based on the initial data that we see, [growth] is possible… because there is no major calamity and typhoon,» Agriculture Assistant Secretary Arnel de Mesa told reporters.

Agriculture and fisheries production grew by 2.1 percent in the first quarter but then fell by 1.2 percent in April-June. The contraction continued in the third quarter but narrowed to 0.3 percent.

At constant 2018 prices, production for the July-October period amounted to P412.41 billion from the year-earlier P413.6 billion.

«Hopefully, the fisheries sector will bounce back because this is the sub-sector that recorded the biggest decrease,» de Mesa said.

Last year, agriculture, forestry, and fishing contributed the least to the national economy among the three major economic sectors.

Gross value added of the sector reached P1.78 trillion, accounting for 8.9 percent of gross domestic product in 2022.

In comparison, services accounted for 61.4 percent and industry, 29.7 percent.

"[W]e're hoping at the end of the fourth quarter, once the data has been released early next year, the agriculture sector will really rebound," de Mesa said.