Philippines Q1 farm output value up 0.05% yr/yr

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Farmers working on a field. (File photo from Philippine News Agency)

MANILA — The Philippines’ agricultural and fisheries output value rose an annual 0.05% in the first quarter of the year, the statistics agency said on Wednesday.

The Southeast Asian country’s crops output, which accounted for roughly 58% of the agriculture sector’s total production, dropped 0.3% from a year earlier, the Philippine Statistics Authority said.

Livestock production contracted 3.6% and fisheries production eased by 1.3%, while poultry output rose 5.9%.

The government will release first-quarter gross domestic product figures on May 9, giving the central bank more data ahead of their May 16 rate-setting meeting.

— Reporting by Neil Jerome Morales; Editing by John Mair