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Overview of Philippine Agriculture

Economic Performance

In 2014, the country's Gross National Income (GNI) grew by 5.78 percent. Gross Domestic Product (GDP) registered a 6.13 percent increment. Gross Value Added (GVA) in agriculture and fishing went up by 1.60 percent. This sector accounted for 10 percent of the GDP.

Production Performance in Agriculture.

Gross output in agriculture inched up by 1.40 percent in 2014. Among the subsectors, crops recorded the highest production growth rate at 2.50 percent. Production gains were posted by palay at 2.87 percent and corn at 5.33 percent. Output declines were recorded for coconut, coffee, mongo, calamansi and camote.

Production in the livestock subsector improved by 1.01 percent. Gross outputs from hog, cattle and carabao rose by 1.0 percent, 1.11 percent and 1.10 percent, respectively. Goat production was up by 0.91 percent. Dairy had a 1.03 percent output gain. The poultry subsector came up with a 0.27 percent increase in production. Chicken and duck production grew by 1.07 percent and 0.46 percent, respectively. Chicken egg production contracted by 2.81 percent. Production of duck eggs was up by 1.07 percent.

The fisheries subsector recorded a 0.45 percent reduction in output. Downtrends in production were noted among the major species such as milkfish, tilapia, roundscad and seaweed.

Prices

On the average, prices received by farmers for their produce in 2014 were 11.13 percent higher than the 2013 levels. Prices of cereals and commercial crops had the biggest increments corresponding to 19.28 percent and 22.87 percent. Price gains were also recorded for fruits at 6.26 percent, livestock at 6.01 percent, poultry at 6.11 percent and fishery at 3.06 percent. Meanwhile, prices of vegetables and legumes were down by 2.56 percent and rootcrops and tubers by 11.01 percent.On the other hand, the prices paid by consumers for food and non-alcoholic beverages were up by an average of 6.68 percent.

Agricultural Trade

The country's earnings from agricultural exports increased by 5.78 percent in 2014. Top earners were coconut oil and fresh banana which contributed 37 percent to the total value of agricultural exports. Major markets for coconut oil were United States of America and the Netherlands and for fresh banana, Japan and China.

The expenditures for agricultural imports in 2014 were up by 19.86 percent. Highest spending was recorded on wheat and meslin, soyabean oil/cake meal, and milk and cream and products. These accounted for a combined share of about 28 percent in the total value of agricultural imports. USA was the leading supplier of wheat and meslin and soyabean oil/cake meal. New Zealand was the primary source of milk and cream and products.

The country maintained an agricultural trade deficit in 2014. Deficits were noted with major trading partners such as Australia, USA, ASEAN countries and the European Union. Agricultural trade surplus with Japan was sustained.

Employment and Wages

Excluding Eastern Visayas, labor force in 2014 totaled 40.05 million persons. Employment rate was 93 percent. About 11.21 million persons were employed in the agriculture sector and this comprised 30 percent of the national employment. In the first half of 2014, the daily nominal wage rates received by palay and corn farm workers were P287.52 and P230.36, respectively.

Agricultural Support Services

In 2014, government expenditures for the agriculture sector amounted to P112.09 billion or 19.03 percent higher than the 2013 record. The amount was 4.95 percent of the total national expenditures.

Agricultural loans totaled P778.25 billion of which 32 percent were loans used for production purposes.