PRODUCTION

The second quarter 2013 seasonally adjusted palay production was down by 0.02 percent. From 4.493 million metric tons in the first quarter of 2013, it decreased to 4.492 million metric tons. This was attributed to contraction in harvest area due to movement of harvesting to the first quarter, intense heat, and insufficient water supply.

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

Year on year, this quarter’s deseasonalized output was lower by 2.48 percent.

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

PRICES

The seasonally adjusted farmgate price of palay and retail price of rice in the second quarter of 2013 increased from the first quarter 2013 level by 0.99 percent and 0.25 percent, respectively. On the other hand, wholesale prices declined by 0.69 percent.

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

This quarter’s deseasonalized farmgate price of palay was lower by 0.55 percent compared with last year’s price quotation. Wholesale and retail prices of rice increased by 0.34 percent and 0.43 percent from their respective levels in 2012.

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