Sunday, 26 May 2019

Philippines' Poultry sector's output grew

The country’s agriculture sector recorded a slower growth in the first quarter of the year, with both gains and cuts recorded in production while the value of farm produce posted its first decline since 2016.

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The Philippine Statistics Authority (PSA) reported that agriculture grew by 0.67 percent during the three-month period against 1.08 percent in the same quarter last year, which could mean a worsening performance following the dismal growth observed in 2018 when farm output fell short of reaching the government’s targets.

Agricultural output accounted for about a tenth of the country's gross domestic product (GDP) in the recent years. The government will release first-quarter GDP data on Thursday.

Three sub-sectors — livestock, poultry, fisheries — posted growth, while crops, which accounts for about half of agriculture's total output, contracted by a percent.

 

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