THE producer price index (PPI) for agriculture increased by 21.7 percent in the first quarter of the year, or higher than the 5.6-percent uptick recorded in the first three months of 2022, the Philippine Statistics Authority (PSA) reported on Monday.
The growth in the first quarter of 2023, however, was lower than the 24.7 percent posted in the fourth quarter of 2022.
“The highest annual increment for the PPI for agriculture in the first quarter of 2023 was registered in Western Visayas at 60.4 percent,” the PSA said.
Meanwhile, the highest annual decline of 24.2 percent was recorded in both the Cordillera Administrative Region (CAR) and Bicol Region.
The PPI for crops went down to 28.5 percent relative to its annual increase in the fourth quarter of 2022 of 32.3 percent.
Slower annual increments were observed in the following commodity groups such as cereals at 7.0 percent from 9.0 percent in the previous quarter.
Root crops also decreased at 12.1 percent from 18.1 percent; fruit vegetables at 3.3 percent from 35.0 percent; leafy vegetables at 26.5 percent from 29.4 percent; and commercial crops at 51.6 percent from 60.4 percent.
On the other hand, condiments registered an annual increase of 52.2 percent from 24.9-percent annual decline. Growth rates were observed in beans and legumes at 23.6 percent from 17.0 percent; and fruits at 7.1 percent from 3.9 percent.
“Among the regions outside the National Capital Region (NCR), Western Visayas registered the fastest annual growth rate in the PPI for crops at 73.3 percent in the first quarter of 2023. This was followed by Central Visayas at 47.8 percent and Northern Mindanao at 41.0 percent,” the PSA said in a statement.
The highest annual declines in the PPI for crops were registered in CAR at 26.1 percent and Bicol Region at 24.4 percent.
The PPI for livestock and poultry also slowed down to 0.2 percent from 8.7 percent in the previous quarter.
“The slower annual increment in the PPI for livestock and poultry was due to the annual drop in the PPI for livestock at 0.1 percent during the quarter from 4.7-percent annual growth in the previous quarter,” the PSA said.
Central Luzon recorded the highest annual drop of 27.9 percent, followed by Cagayan Valley at 26.5 percent and Calabarzon (Region 4A) at 22.9 percent.
Northern Mindanao logged the highest annual increase at 55.8 percent; Soccsksargen at 38.5 percent; and Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) at 37.1 percent.
Meanwhile, the fisheries sector noted an increase at 12.6 percent during the quarter from 5.4 percent in the previous quarter.
Aquaculture posted higher growth at 20.0 percent during the quarter from the last quarter’s 5.6 percent. Commercial fisheries also increased at 21.1 percent from last quarter’s 12.3 percent contributed to the overall fisheries index.
On the other hand, decrease was noted in the marine municipal fisheries at 1.5 percent from 2.8 percent. The PPI for inland municipal fisheries also went down to 1.6 percent from 1.9 percent in the fourth quarter of 2022.
The NCR and Central Luzon logged the highest annual rate in the PPI for fisheries at 28.1 percent, Soccsksargen and BARMM followed, both registering an annual increase of 26.5 percent.
The highest decrease was recorded in Bicol Region at 30.8 percent, Mimaropa (Region 4B) at 29.8 percent and Northern Mindanao at 27.7 percent.