The agriculture and fisheries sector shrank 3.3 percent in the second quarter of 2024 on lower rice and corn production, the Philippine Statistics Authority (PSA) said Wednesday.
It followed the 0.2-percent growth in the first quarter of 2024 and the 1.2-percent drop in the second quarter of 2023. Agriculture and fisheries output represents about a tenth of the Philippines gross domestic product.
Data from the PSA show that in the first half, the agriculture and fisheries sector also contracted 1.5 percent, a reversal of the 0.4 percent growth in the same period last year.
The PSA said the second-quarter decline was due to the annual decreases in the values of crops and livestock production during the period. “Meanwhile, values of poultry and fisheries production posted annual increments,” it said.
Crop production fell 8.6 percent year-on-year in the second quarter of 2024. It contributed 53.2 percent to the total value of agriculture and fisheries production.
“Declines in the value of palay and corn production were registered at 9.5 percent and 20.3 percent annually, respectively,” the PSA said.
The PSA said in a separate report that in terms of volume, crop production fell 13.0 percent in the second quarter to 15.56 million metric tons from 17.88 million MT a year ago. It said the annual decline was due to the lower output of sugarcane, rice and corn.
Livestock production also declined 0.3 percent from a year ago and comprised 15.3 percent of the total value of production in agriculture and fisheries sector.
Hog output decreased 0.2 percent year-on-year.
Poultry production increased 8.7 percent in the second quarter and accounted for 16.9 percent of the total value of production in agriculture and fisheries sector.
Fisheries also rebounded by 2.2 percent in the second quarter and accounted for 14.6 percent of the total value of production in agriculture and fisheries sector.
The PSA will release the second-quarter GDP data on Thursday.
