PRODUCTION

The seasonally adjusted palay production for the second quarter of 2014 was 4.75 million metric tons, higher by 1.56 percent from the 4.68 million metric tons output in the first quarter. The increment was largely attributed to expanded harvest areas. This was due to movement of harvest from the first quarter to the second quarter of the year as a result of late plantings, and delayed maturity of the crop due to cold spell in the key production areas in Cagayan Valley. In SOCCSKSARGEN, there was cropping movement to this quarter brought about by delayed plantings of some areas utilized during the fourth quarter last year. In Central Luzon and Ilocos Region, the availability of irrigation water during planting time and the high price of palay encouraged more farmers to plant.

Figure 1. Quarterly Palay Production, Philippines, 2008-2014

Compared with the same period last year, this quarter’s performance when deseasonalized was higher by 6.09 percent or 273 thousand metric tons.

Figure 2. Quarterly Farmgate Prices of Palay, Philippines, 2008-2014

PRICES

The seasonally adjusted farmgate price of palay for the second quarter of 2014 increased by 6.80 percent from its first quarter level. The wholesale and retail prices of rice were also up by 3.32 percent and 4.18 percent from their respective first quarter levels.

Figure 3. Quarterly Wholesale Prices of Rice, Philippines, 2008-2014

Year on year, the deseasonalized prices at all trading levels were also higher.

Figure 4. Quarterly Retail Prices of Rice, Philippines, 2008-2014