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2026-11-06 11:32:31
[Philippines' agricultural output shrank to a record low in the third quarter, with rice production cuts exacerbating economic pressure] (1) The Philippines' agricultural output shrank to a record low in the third quarter, mainly due to a sharp decline in rice production; this indicates that the Philippines, as one of the relatively underperforming economies in Southeast Asia, will face greater pressure on its economy. (2) From July to September, Philippine agricultural output fell by 5% year-on-year, the largest decline since records began in 1999. (3) Affected by monsoon rainfall, rice production in this climate change-sensitive country fell by 17.8% year-on-year to 3 million tons. (4) Philippine Agriculture Secretary Francisco Tiu Laurel said that El Niño has altered rainfall patterns and may exacerbate drought, coupled with high fertilizer prices, which may be the reasons for the record decline in agricultural output; he expects agricultural output to remain sluggish this quarter.
