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Brunei's Farm Sector Needs A Shot In The Arm

by 5m Editor
14 September 2007, at 11:16am

BRUNEI - Brunei's farm sector covering agriculture, forestry and fishery needs a boost, as its output has been shrinking steadily over the past couple of years.

There are signs the sector may get its act together with a number of developments that can pave the way for stunning leaps in export figures of food products.

While that remains a potential, the sector begs for a major lift with quarterly declines reaching double digit in some instances.

In the first three months of this year, the farm sector saw a 10.1-per cent decline in the value of its output.

If you go by absolute numbers (at constant prices), this means that the sector's output was valued at $31.6 million, based on official statistics from the Department of Economic Planning and Development (JPKE). This figure represents a drop from the $35.1-million output recorded in the same period last year.

This does not augur well for the sector, given that the figure for the first quarter of 2006 was already a staggering 28.7-per cent dive from the $49.2 million posted in the first three months of 2005.

In the last quarter of 2006, the sector also shrank 12.0 per cent from the same period in 2005.

It remains to be seen how the sector would pull itself from the mire in the last three quarters of this year.

Greater attention has been given to the sector, especially with the recent International Halal Product Exhibition held last month.

Source: BruDirect.com

5m Editor