Philippines' agricultural output may shrink in the second quarter of this year due to El Nino

Published Aug 8, 2024

Tridge summary

The Philippines is projected to experience a decline in crop and fishery production in the second quarter due to the effects of the El Nino phenomenon, which caused a total agricultural loss of 15.3 billion pesos and affected around 333,000 farmers and fishermen. The high temperature and drought condition led to a crop yield reduction of over 780,000 tons and affected 270,000 hectares of farmland. Furthermore, the probability of La Nina, which could cause further losses, is estimated to be 70% from August to October. The Philippine Department of Agriculture's growth target for this year is 1% to 2%, but experts believe that the country is unlikely to achieve this due to the upcoming La Nina phenomenon.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Philippine Business World on August 5, analysts said that due to the high temperature and drought caused by the El Nino phenomenon in the first half of the year, the crop and fishery production in the Philippines will decline in the second quarter, which may lead to a 1.5% to 2.5% decline in the total agricultural output value. According to the data of the Philippine Department of Agriculture on August 2, the El Nino phenomenon caused a total agricultural loss of 15.3 billion pesos, a crop yield reduction of more than 780,000 tons, 270,000 hectares of farmland affected, and about 333,000 farmers and fishermen affected. The Philippine Meteorological Bureau said that the probability of La Nina from August to October is 70%. The Philippine Department of Agriculture has set the growth target ...
Source: Foodmate
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