Adjusted palay production for Q1 2019 down to 4.69 million metric tons

MANILA, Philippines – The adjusted production of palay or unhusked rice in the 1st quarter of 2019 decreased by 4.6% year-on-year to 4.69 million metric tons (MMT), data from the Philippine Statistics Authority (PSA) showed.

This is also 0.4% lower compared to the 4th quarter of 2018. But it is still higher than the PSA’s initial estimate of 4.65 MMT. (READ: Farm output growth slows to 0.67% in Q1 2019)

The highest palay production since 2011 had been recorded in the 1st quarter of 2018, at 4.92 MMT.

The deseasonalized farmgate price for palay was slightly higher at P20.07 per kilogram (kg) in the 1st quarter of 2019, from P20.04 per kg in the same period last year. But it is 5.3% lower compared to the 4th quarter of 2018, as farmgate prices continue to decline.

The retail price for rice in the 1st quarter was also lower by 12% year-on-year and 4.28% month-on-month to P41.35 per kg.

Despite the decline in both farmgate and retail prices, the wholesale price still rose by 11.2% year-on-year and 2.8% month-on-month to P45.06 per kg.

Rice prices are expected to be on a decline in the coming months with the passage of the rice tariffication law last February. – Rappler.com