Business Bayani PH

The value of production in agriculture and fisheries faced a marginal decline of 0.3 percent in the third quarter of 2023, according to the latest data released by the Philippine Statistics Authority. 

This dip was primarily driven by reductions in crop and fisheries production, while livestock and poultry production experienced increases during the same period.

In the third quarter of 2023, the total value of production in agriculture and fisheries, calculated at constant 2018 prices, stood at ₱412.41 billion. Crop production, which accounted for a significant 54.0 percent of this value at ₱222.69 billion, contracted by 0.4 percent. While there were slight increases in the production of palay and corn at 0.2 percent and 5.0 percent, respectively, the overall crop production saw a decrease. 

On the bright side, livestock production contributed positively, with a value of ₱66.11 billion, marking a 2.5 percent increase from the same quarter the previous year. Hog production, in particular, recorded a 3.3 percent improvement in its value, making a significant contribution to this positive trend. 

Poultry production also thrived during this period, with a total value of ₱64.89 billion, and a 2.9 percent expansion. Except for duck eggs, all poultry commodities registered increments in their production values. 

In contrast, the fisheries sector experienced a notable decline in production value. The total value of production in fisheries, which amounted to ₱58.72 billion, decreased by 6.1 percent. This sector contributed 14.2 percent to the overall value of production in agriculture and fisheries. The decline in fisheries production was particularly evident in tiger prawn (sugpo), which saw a sharp decrease of 49.0 percent, and bigeye tuna (tambakol/bariles) with a 41.1 percent drop.

Shifting the focus to current prices, the total value of production in agriculture and fisheries in the third quarter of 2023 was ₱522.58 billion, marking a 4.3 percent increase compared to the same quarter in the previous year. This increase reflects the ever-changing nature of the agriculture and fisheries sectors, with fluctuations in both positive and negative directions.

While the overall decline in agriculture and fisheries production value was marginal, the dynamics of the individual sectors within this industry played a significant role. 

Crop production witnessed a slight contraction, while livestock and poultry production showed positive growth. Meanwhile, the fisheries sector faced a notable setback due to substantial decreases in certain fish products. 

It’s important to note that these statistics shed light on the complexities of the agriculture and fisheries industry. Factors such as weather, market demand, and technology advancements can have a substantial impact on the performance of these sectors. 

This information can guide policymakers, farmers, and industry stakeholders in making informed decisions to maintain a healthy and robust agricultural and fisheries sector in the country.

As the year progresses, the industry will continue to adapt and evolve, aiming for sustainable growth and prosperity. The fluctuations in production values in the third quarter of 2023 serve as a reminder of the importance of resilience and adaptability within these vital sectors. ◼