Philippines eyes faster farm output growth in 2017
Philippine farm output is projected to increase by 7 – 8 percent next year since the country looks to ship more products to markets such as China, said Agriculture Minister Emmanuel Piuol.
Illustrative image (Source: International Business Times)
Hanoi (VNA) – Philippine farm output isprojected to increase by 7 – 8 percent next year since the country looks toship more products to markets such as China, said Agriculture Minister EmmanuelPiuol.
Growth target of the local agriculture sector in 2017 is higher than thisyear’s forecast increase of 3.5 – 5 percent.
The surge of rice production in the fourth quarter of 2016 thanks to favourableweather will support the sector’s growth in the whole year, said the minister.
Unmilled rice yield is expected to reach 18.57 million tonnes next year from aprojected 17.9 million tonnes this year as the government provides more seedsand irrigation services to farmers.
China lifted a ban on imports of Philippine pineapples and bananas on Octoberand pledged to import fish and other farm products from the Southeast Asiancountry after President Duterte promised to form a trade alliance with China.
Earlier, the World Bank (WB) on December 15 predicted the Philippines’ economyto grow at 6.8 percent in 2016 compared to the previous forecast of 6.4 percentreleased in October.
The increase was driven by accelerating investment and private consumption, said WB.-VNA
The Philippines’s economy grew 7.5 percent in the second quarter of this year, 1.2 percent higher than the same period last year’s level, the country’s National Statistical Coordination Board (NSCB) said on August 29.
The Philippines' rice production increased 2.3 percent year-on-year to hit a record 18.44 million tonnes in 2013 thanks to strong harvests in the fourth quarter, the Bureau of Agricultural Statistics (BAS) reported.
The Philippines’s rice production reached over 18.4 million tonnes in 2013, up 2.3 percent from 2012 thanks to a bumper crop during its fourth quarter.
The gross domestic product of the Philippines will expand by 6.4 percent in 2016, making the country become one of the fastest growing economies in East Asia and the Pacific.
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