A double whammy of epidemics is hitting the country’s farm sector, which contracted 3.3% year-on-year in the first 3 months of 2021, nearly double the 1.3% rate in the same period a year ago but slightly slower than the 3.7% drop the previous quarter, the Philippine Statistics Authority reported on Monday. The full impact more than offset respectable gains in crops, particularly palay and corn, as well as a recovery in fisheries sector. After securing a compromise deal on the matter with senators who feared a hefty four-fold increase in imports will kill the local sector, the industry is now saying domestic assistance for the group remains lacking. On the flip side, crops went up 3.3% year-on-year, while fisheries bounced back 0.6%-- both were a victim of typhoon damage at the latter part of 2020. For all of 2020, the local agriculture shrank 1.2%, albeit the smallest among key economic sectors.

Source: Philippine Star May 10, 2021 05:43 UTC