PRODUCTION

In the fourth quarter of 2012, the seasonally adjusted palay production was down to 4.53 million metric tons or by 2.14 percent from the third quarter level of 4.63 million metric tons. The decline was attributed to the adverse effects of typhoons Ofel and Pablo during the last quarter of the year.

Figure 1. Quarterly Palay Production, Philippines, 2006-2012

Compared with the same period last year, this quarter’s output when   deseasonalized was higher by 11.22 percent.

Figure 2. Quarterly Farmgate Prices of Palay, Philippines, 2006-2012

PRICES

The seasonally adjusted farmgate price of palay for the fourth quarter of 2012 increased by 0.54 percent from its third quarter level. The wholesale and retail prices of rice were also up by 2.12 percent and 0.34 percent from their respective third quarter levels.

Figure 3. Quarterly Wholesale Prices of Rice, Philippines, 2006-2012

Compared with last year’s levels, the deseasonalized prices at all market levels were also higher during the quarter.

Figure 4. Quarterly Retail Prices of Rice, Philippines, 2006-2012