For the first three quarters this year, the agriculture sector grew by 4.3 percent with a gross value of P684.1 billion.
With this performance, agriculture officials remain confident that the sector will hit its revised growth target of 4.5 to five percent for the whole year this year.
The agriculture sector, which accounts for almost a quarter of the country‘s gross domestic product, grew by 3.88 percent last year.
“I am comfortable that the original full year target of 4.5 to five percent is achievable, depending on the weather,” Agriculture Secretary Arthur C. Yap said in a press briefing yesterday.
Forecasting for 2008 is not possible as the sector is dependent on weather conditions, Yap said, adding that “there are more uncertainties next year, and disturbing climate change is perceptible.”
The agriculture department had set an original growth target of 4.5 to five percent but this was downscaled to 3.8 to four percent due to the dry spell that affected the country in the second quarter.
To achieve the original growth target, the corn sector must grow by a similar 4.5 to five percent in the last three months of 2007, while the rice sector must expand by over five percent.
Bureau of Agriculture Statistics (BAS) director Romeo Recide said rice and corn will be the trendsetters for the remaining three months as the other sectors have been consistent in their performance in the previous quarters.
“Palay must grow by over 10 percent in the fourth quarter to support the full year growth target,” Recide added.
Meanwhile, the fishery sector continued to lead the agriculture sector with a 7.92-percent growth in the first nine months of 2007. This sector accounts for 26.35 percent of the agriculture sector.
At current prices, it contributed P134.6 billion for a little over 10-percent growth.
Output of commercial fisheries expanded by 10.71 percent. Aquaculture and municipal fisheries recorded a positive output of 6.5 percent and 8.16 percent, respectively.
Accounting for 46.77 percent of the agriculture sector, the crops subsector expanded by 4.17 percent, with a gross value at current prices of P350.9 billion. Palay and corn production grew by 3.45 percent and 9.5 percent, respectively. Banana, pineapple, mango, cassava, mongo, tomato, onion, eggplant and rubber also boosted the performance of the subsector.
The livestock subsector grew by 2.06 percent while the poultry subsector grow by a mere 0.41 percent.