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Rice seen to drive Q1 agriculture growth.
(From BusinessWorld (Philippines))
Good rice production nationwide, mainly due to La Nina-induced rains, is expected to boost first-quarter agricultural performance to a range of 4.7% to 4.8% from a dismal 0.55% growth in the same period last year.
Agriculture Sec. Domingo F. Panganiban said in a statement yesterday that current production figures are looking at a 7.6% growth in rice production alone, which is a turnaround from the 1.5% decline it posted in the first quarter of 2005.
"These are our projections. We will be coming out with the final figures by next week," the statement quoted Mr. Panganiban as saying.
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