Metro Manila (CNN Philippines, October 28) — The producer price index (PPI) for agriculture increased to 8.2% in the first quarter of 2021, data from the Philippine Statistics Authority (PSA) showed.
According to PSA’s report, the latest figure is a turnaround from -2.9% recorded in the same period in 2020 and also a jump from the previous quarter’s 4.1%.
The PPI for agriculture is a measurement of “the average changes in average farmgate prices of a basket of goods relative to a base period.”
Broken down, livestock and poultry posted the highest increase in the first quarter of 2021 at 23.7% from -2.2% last year.
“A higher double-digit annual increment of 44.5 percent was recorded in the index of livestock during the quarter. Likewise, the index of poultry also posted a double-digit annual growth of 12.5 percent in the first quarter of 2021,” the PSA said.
As for crops, PPI rose to 8.9% from the 3.2% decline recorded a year earlier. This was attributed to hikes in the indices of condiments (74.8%), leafy vegetables (77%), fruits (3.5%), and commercial crops (12.5%).
Meanwhile, PPI for fishery continues to drop, reaching -16% in the first quarter of 2021 from -2.3% in the same period last year.
The PSA explained that the indices for some commodity groups, like commercial fishery, inland municipal fishery and marine municipal fishery, “exhibited faster annual decreases during the quarter.”
Among the regions, the Cordillera Administrative Region recorded the highest growth at 58.2%, while the Bangsamoro Autonomous Region in Muslim Mindanao posted the lowest at -4.7%.