Agri production hits P500 B

By Jeehan V. Fernandez

“Agriculture grew by 6.82 percent during the first nine months of 2004, with palay, corn and aquaculture as the main sources of growth,” the Department of Agriculture noted.

In an economic briefing hosted by Iloilo Business Club (IBC) January 14, a DA representative stressed that at current prices, the gross value of total agriculture production amounted to P557.9 billion, posting a 19.19 percent increment.

Agricultural crops expanded by 7.21 percent compared to previous year's record. The sustained output is translated into robust gains of 14 percent for palay and 22.46 percent for corn during the January to September period.

The crops subsector grossed P273.8 billion at current prices or 18.23 percent more.

However, livestock grew at a slower rate of .48 percent in 2004. The subsector's gross value of production reached P102.3 billion at current prices registering a 24.26 percent increase during the period.

Meanwhile, poultry realized a 2.96 percent increase in output. At current prices, the poultry subsector grossed P78.3 billion, up by 19.29 percent over last year's level.

“The remarkable 26.25 percent expansion in aquaculture production pushed up the gross output of fisheries by 12.65 percent,” the DA cited. Commercial and municipal fisheries grew by 1.57 percent and 2.98 percent, respectively.

The gross value of production in the subsector amounted to P103.5 billion at current prices, representing a 16.69 percent growth.

The DA also added that on the average, prices of agricultural commodities increased by 11.58 percent during the first nine months of last year.

The top ten major agricultural exports include coconut oil (crude and refined) – US$504.86 million, fresh banana – US$333 million, pineapple and its products – US$ 169.18 million, tuna – US$156.93 million, shrimps and prawns – US$125.46 million, desiccated coconut – US$95.74 million, seaweeds and carrageenan – US$80.30 million, sugar – US$58.33 million, manufactured fertilizer – US$49.47 million and manufactured tobacco – US$40.07 million.