Philippines Q2 farm output value down 3.3% yr/yr
MANILA – The Philippines’ agricultural and fisheries output value dropped an annual 3.3% in the second quarter of the year, led by decreases in the crops and livestock sector, the statistics agency said on Wednesday.
The Southeast Asian nation’s crop output, which accounted for 53% of the agriculture sector’s total production, sank 8.6% from a year earlier while livestock output contracted by 0.3%, the Philippine Statistics Authority said.
Poultry output rose 8.7% and fisheries production increased by 2.2%.
The government will release second-quarter gross domestic product figures on Thursday, giving the central bank more data ahead of their Aug. 15 rate-setting meeting. — Reuters
