Philippine Business News & Updates:
14 August 2007-according to the Department of Agriculture,the agriculture sector grew 3.5% in the first half of 2007.
January-September,2007-livestock subsector produced 2.06% more output this year.Total share in agriculture production was 13.08%.(hog industry grew by 2.39%),carabao and goat registered 3.41% and 1.83% increments in production.The subsector grossed P117.9 billion at current prices,or 4.3% more than last years record (2006).
This is significantly slower than the 5.24% growth experineced in the first half of 2006 Agriculture Sec. Arthur Yap admitted,it might be difficult to attain the 4-5% growth target for the sector by yearend.
The livestock sector recorded a 2.5% growth.Agriculture posts 3.9% growth in (hog production),cushioned lower carabao,cattle and goat production,85.7 million metric tons (mt) of farm products,value of P887.6 billion,increasing by 8.6% from 2005s production value of P817.2 billion.Goat production also declined by 3.2% due to the delayed building of breeding stocks in the third and fourth quarters (goat shortage) of 2006.The livestock subsector for 2006:goat prices bounced back from 2005s negative growth and posted a 5.7% increase and dairy prices were 3.69% higher.Carabao and cattle prices increased by 7.06% and 4.15% respectively,Department of Agriculture Bureau of Agriculture Statistics.