|
The sector's resilience once
more leads the other economic sectors on the path to recovery.
Despite the lingering effects of the Asian financial crisis and
the El Niño phenomenon, sectoral production grew by 6.18%
during the first three quarters of the year.
| |
|
Projected corn production of 4.6 million m.t.,
the second largest
ever; or a
growth rate of 20%, the
highest in the last 20 years. |
|
| |
|
The livestock industry resumed its high growth
path at 5%, producing 1.41 million m.t. this year. |
|
| |
|
Fisheries similarly resumed its path to recovery
and growth at 2.5%, producing 44,000 m.t. more than last year. |
|
| |
|
Prices received by farmers as of the first half
of the year outstripped the inflation rate 8.7% to 5.7%. The
inflation rate for the first three quarters averaged 7.5%. Increases
in farm incomes have thus matched the growth in the basic cost
of living. |
|
| |
|
The retail price of rice, which accounts for 12%
of the inflation rate, remained stable at the P18.94 to P19.37
per kg. range, on average lower by 2% from 1998 prices. |
|
|