Agri-fisheries output down 3.3% in Q2 2024

The value of agricultural and fisheries production dropped by 3.3 percent in the second quarter of the year, according to the Philippine Statistics Authority (PSA) on Wednesday.

Agricultural production in Q2 this year was P413.91 billion, lower than last year’s Q2 P427.95  billion.

The statistics bureau linked the drop in value output to the annual decrease in the value of crops and livestock production.

Crop output valued at P220.04 billion was 8.6 percent lower than its level in the same quarter in 2023, registered at P240.83 billion.

PSA said this fall contributed 53.2 percent to the total value of agriculture and fisheries production in Q2 this year.

The agency noted the declines in the value of palay (unmilled rice) and corn production, which were registered at 9.5 percent and 20.3 percent annually, respectively. 

Livestock, on the other hand, had a production value of  P63.33 billion, a 0.3 percent contraction from its P63.50  billion value in the second quarter of 2023. 

This contributed to 15.3 percent of the total value of production in agriculture and fisheries in Q2 of 2024, with hogs posing a year-on-year decrease of 0.2 percent, making it the major contributor to the total value of livestock production.

Meanwhile, the P70.15 billion production value of poultry was an 8.7 percent increase from last year’s P64.54 billion value production.

The gains accounted for 16.9 percent of the total value of agri-fisheries production in Q2 of the year.

PSA noted that all poultry commodities registered increments in their value of production.

Lastly, fisheries posted a 2.2 percent year-on-year growth—from P59.07 billion in Q2 2023 to the same period this year at P60.40 billion. 

The increase accounts for 14.6 percent of the total value of production in agriculture and fisheries.