The Financial Express

Philippines' agricultural output grows record high

| Updated: January 21, 2018 13:41:43

Philippines rice harvest hits record high

The Philippines’ rice output grew at record high in the fourth quarter (Q4), while the total agricultural output grew 2.2 per cent in the same period.

The paddy rice output of the 9th largest rice producer in the world grew 9.4 per cent to a record 19.28 million tonnes in the past quarter, reports Reuters.

The full-year expansion rose to 3.95 per cent, supported by a record rice production, the statistics agency said on Friday.

Farm output accounts for about a tenth of the Southeast Asian nation’s gross domestic product, which is among the fastest growing in the world.

The growth in the agriculture sector in the Q4 followed a 1.09 per cent decline in the same quarter in 2016, when full-year output dropped 1.4 per cent, the statistics agency said.

The crops subsector, which accounted for 51 per cent of total farm output, rose 2.7 per cent in the fourth quarter.

The Philippines will release its GDP data on Jan. 23.

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