The Philippine Statistics Authority reported that the value of agriculture and fisheries production in the third quarter fell 3.7% year-on-year to P397.43 billion, primarily due to lower rice and hog production. Palay output value, a key crop, dropped 12.3% due to bad weather, while hog production contracted 8.0% due to the lingering impact of African Swine Fever. Poultry and corn production showed positive growth, providing some bright spots for the agriculture sector. Crops still account for 53% of overall agricultural output value.
Thursday, 01 May 2025, 9:09 pm
The latest
Energy
Surplus triggers negative WESM prices on holidays, signaling supply-demand imbalance
The Energy Regulatory Commission (ERC) reported a rare occurrence of negative average electricity prices at the Wholesale Electricity Spot Market (WESM) during major holidays, highlighting a significant gap between supply and demand that has broad economic and commercial implications.
Corporate
OGP remits P467M as government share in 2024 mining operations
OceanaGold (Philippines) Inc. (OGP) has remitted P466.86 million to the Bureau of the Treasury as government share in its mining operations for fiscal year 2024, the Mines and Geosciences Bureau (MGB) said.
Banking & Insurance
PCIC optimistic about securing higher 2026 budget to widen farmer coverage
The Philippine Crop Insurance Corp. (PCIC) is optimistic about securing an additional P1 billion in funds from the 2026 national budget to expand farmer insurance cover numbering 4.2 million as of end-2024.
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