Seasonally Adjusted Palay/Rice Production and Prices, January-March 2016

Release Date : 17 June 2016

PRODUCTION

The seasonally adjusted palay production for January-March 2016 was 4.34 million metric tons, lower by 6.32 percent from the 4.64 million metric tons output in the fourth quarter of 2015.

The negative growth was largely attributed to contraction in harvest area and decreased yield due to insufficient water supply and effect of dry spell across the regions in the country. In Central Luzon and MIMAROPA, palay production was adversely affected by typhoon “Nona” last December 2015. Morever, the drought in some provinces in these regions caused damage to the crop and effected low yield. The flooding brought by Northeast Monsoon rains led to reduction in harvest areas in Cagayan Valley.

Figure 1. Quarterly Palay Production, Philippines, 2010-2016

Figure 1. Quarterly Palay Production, Philippines, 2010-2016

Year on year, this quarter’s performance when deseasonalized was down by 9.10 percent or 435 thousand metric tons.

Figure 2. Quarterly Farmgate PRices of Palay, Philippines, 2010-2016

Figure 2. Quarterly Farmgate PRices of Palay, Philippines, 2010-2016

PRICES

The seasonally adjusted farmgate price of palay and retail price of rice for the first quarter of 2016 were up by 0.95 percent, and 0.41 percent, respectively, from their fourth quarter 2015 levels. However, the wholesale price of rice dropped by 0.42 percent from its last quarter’s level.

Figure 3. Quarterly Wholesale Prices of Rice, Philippines, 2010-2016

Figure 3. Quarterly Wholesale Prices of Rice, Philippines, 2010-2016

This quarter’s deseasonalized farmgate price of palay, retail and wholesale prices of rice decreased by 1.52 percent, 2.87 percent and 2.31 percent from their respective price quotations compared with the same period last year.

Figure 4. Quarterly Retail Prices of Rice, Philippines,2010-2016

Figure 4. Quarterly Retail Prices of Rice, Philippines,2010-2016