The Philippine Statistics Authority (PSA) has reported that the rate of increase in agricultural commodity prices, including crops and fish, has slowed down in the third quarter. According to a report from the PSA, the annual producer price index (PPI) for agriculture decreased to 7.9 percent from 12 percent in the second quarter of this year. This marks the lowest price growth rate for agricultural products since the fourth quarter of the previous year.
The growth rate of PPI for agriculture from January to September was registered at 14.5 percent. However, the quarter-on-quarter growth was slower, moving at a 0.1 percent decline compared to 0.9 percent in the second quarter.
The PPI for crops also showed a deceleration, dropping to 12.3 percent from 18.8 percent in the previous quarter. Growth rates declined in fruits, crops, and commercial crops, while increases were recorded in cereals, beans and legumes, condiments, and leafy vegetables.
The PPI for fisheries also slowed down to 2.1 percent in the third quarter. Among the fisheries subsectors, inland municipal fisheries saw the highest annual drop in price growth at 20.7 percent.
On the other hand, the PPI for both livestock and poultry recorded an uptrend of 2.2 percent in the third quarter. This was due to the annual increases noted in the price growth of poultry and livestock.
Overall, the report shows a general slowdown in the rate of increase in agricultural commodity prices, indicating a more stable market for these products.
