Philippine agriculture sector to grow by 2.5%

15:43, June 18, 2010      

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The Philippines' agriculture sector is expected to grow at a faster rate of 2.5 percent this year as it recovers from the damaging effects of the El Nino dry spell that hit the country in the first half.

The government's measure to improve productivity for major crops like palay in the second semester will bolster the growth, Philippines' Agriculture Secretary Bernie Fondevilla told reporters on Friday.

The 2.5 percent growth is higher than the 0.37 percent posted last year but also depends on precondition that there will be no strong typhoons in the second half.

The Philippines, an agriculture nation, spent around 3 billion pesos (64.94 million U.S. dollars) in the first half to improve rice production. Bulk of the funds have been used for improving irrigation facilities as well as the distribution of seeds to prepare the sector for La Nina.

Rice production for the year meanwhile can grow by 4.7 percent to 17.4 million metric tons this year and will no longer rice importation, Fondevilla said.

Farm output was the only sector that posted a contraction in the first quarter this year, and the industry accounts for a fifth of the country's gross domestic product (GDP).

Source:Xinhua

(Editor:黄蓓蓓)

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