THE DEFICIT in the agricultural goods trade in March rose 2% year on year to $889.15 million, the Philippine Statistics Authority (PSA) said.
Agricultural exports in March rose 16.7% to $715.76 million, the PSA said.
It said agricultural exports accounted for 30.8% of two-way agricultural trade, valued at $715.76 million in March. Farm goods accounted for 10.9% of total exports.
Agricultural imports rose 8% year on year in March to $1.60 billion. Farm goods accounted for 15% of Philippine imports overall that month.
The $2.32 billion in agriculture trade in March was up 17.1% year on year. In February 2025 and March 2024, trade had risen 20.2% and 8.5%, respectively.
“In February 2025, the trade deficit registered an annual increase of 17%, while an annual decrease of 18.7% was recorded in March 2024” the PSA said.
The PSA said exports of animal, vegetable, or microbial fats and oils and their cleavage products, prepared edible fats, and animal or vegetable waxes were valued at $694.22 million, accounting for 97% of agricultural exports.
Agricultural shipments to members of the Association of Southeast Asian Nations (ASEAN) in March hit $78.02 million, with Indonesia accounting for $24.90 million or 31.9% of the total.
The Netherlands accounted for $77.58 million or 56.6% of Philippine agricultural exports to the European Union (EU). EU purchases totaled $137 million.
The PSA said cereals accounted for 82.8% or $1.33 billion of all agricultural imports in March, with Vietnam accounting for $229.11 million or 31.8% of Philippine agricultural imports from ASEAN.
Within the EU, Spain was the Philippines’ top supplier of agricultural commodities, with imports valued at $26.55 million.
The top agricultural commodities imported from the EU were meat and edible meat offal, dairy produce, birds’ eggs, natural honey; edible products of animal origin, residues and waste from the food industries, and prepared animal fodder. — Kyle Aristophere T. Atienza
