Agriculture seen growing 2.8-3.8% in 2011

By CHINO S. LEYCO
May 14, 2010, 5:31pm

Inter-agency Development Budget Coordination Committee's (DBCC) sees the country's agriculture sector will grow by 2.8 percent to 3.8 percent in 2011 as the sector is expected to recover from extreme weather phenomenon.

The 2011 farm output projection of the inter-agency body tasked to set the country's macroeconomic targets is significantly higher than the 0.1 percent to 1.1 percent growth range projection for this year.

The agriculture sector, which accounts for around a fifth of the Philippines' gross domestic product (GDP), was adversely affected by the El Niño-induced dry spell this year. Damage to crops went beyond P12 billion, breaching the Department of Agriculture's projection of P11 billion.

The government expects that the promotion of quality breedstock will boost the agriculture sector’s productivity next.

The fisheries subsector, the Department of Budget and Management said will benefit from the introduction of new varieties, the proliferation of mariculture parks, and the continued implementation of various conservation activities.

“Forestry will likely to perform well due to the swelling demand from the construction industry for products from commercial forestry,” DBM said in its Budget Call 2011 notice posted in its website.

“The growth in agriculture, fishery and forestry will be strengthened further by the possible increase in foreign direct investments if the country is successful in embarking on complementary industries such as power and energy, and irrigation projects,” it added.