PRODUCTION

The seasonally adjusted palay production in the third quarter of 2013 was 4.37 million metric tons. This was 2.02 percent below the second quarter level of 4.46 million metric tons. Lower production and contraction of harvest areas were due to slide of harvests in the fourth quarter brought about by late/ insufficient release of irrigation water, late onset of rainfall and some areas being left in-fallow.

Figure 1. Quarterly Palay Production, Philippines, 2007-2013

Compared with last year, this quarter’s deseasonalized output was lower by 6.12 percent.

Figure 2. Quarterly Farmgate Prices of Palay, Philippines, 2007-2013

PRICES

The third quarter 2013 deseasonalized farmgate price of palay as well as the wholesale and retail prices of rice increased from their respective levels in the second quarter of 2013.

Figure 3. Quarterly Wholesale Prices of Rice, Philippines, 2007-2013

Year on year, the seasonally adjusted prices in all market levels were higher than their respective price quotations in 2012.

Figure 4. Quarterly Retail Prices of Rice, Philippines, 2007-2013