Home Economy Agricultural and Agri-Food Industry Sees Slight Dip in Gross Production Value

Agricultural and Agri-Food Industry Sees Slight Dip in Gross Production Value

The gross production value of the country's agricultural and agri-food industry up until September of the last year was recorded at 417 million dollars, a slight decrease from 432 million dollars in the corresponding period in 2022. This sector plays a significant role in the country's economy, with more than 125 million dollars contributed by the agri-food sector alone.

According to Radio Television Brunei, the Value Added Products and Livestock Processing Industry emerged as the largest contributor within the agri-food sector. Up to September of the previous year, this industry contributed approximately 4,646 metric tonnes, valued at 89.93 million dollars, compared to 4,932 metric tonnes worth 90.93 million dollars in the same period the year before. Meanwhile, the Value Added Products and Crop Process industry contributed 983 metric tonnes worth 6.04 million dollars, showing an increase from 871 metric tonnes valued at 4 million dollars. Additionally, other food and beverage industries contributed nearly 30 million dollars.

The country is witnessing a growing demand for value-added products based on meat and plants. Currently, there are 335 local companies active in the agri-food sector, with 57 of them engaged in the meat and poultry-based processing industry and the remainder in the plant-based processing sector. The growth of this sector is attributed to the use of modern technology, market-based innovation, and enhanced knowledge.