PRODUCTION

The seasonally adjusted palay production in the first quarter of 2013 was up by 0.09 percent. From 4.536 million metric tons in the fourth quarter of 2012, production rose to 4.540 million metric tons. Early planting due to sufficient water supply resulted in advanced harvesting in the first quarter of 2013.

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

This quarter’s output when deseasonalized was higher by 3.84 percent than the output of the same period in 2012.

PRICES

In the first quarter of 2013, the seasonally adjusted farmgate price of palay as well as the wholesale and retail prices of rice were down by 3.64 percent, 0.63 percent, and 0.23 percent from their respective fourth quarter levels in 2012.

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

Compared with last year’s records, the deseasonalized wholesale and retail prices of rice were higher by 0.70 percent and 0.37 percent, respectively. On the other hand, the deseasonalized farmgate price of palay was the same as last year’s level.

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