PRODUCTION

The seasonally adjusted palay production for the second quarter of 2012 was 4.49 million metric tons, higher by 6.02 percent from the 4.24 million metric tons output in the first quarter.

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

Compared with the same period last year, this quarter’s performance when deseasonalized was higher by 8.08 percent or 336 thousand metric tons. The increment was largely attributed to expanded harvest areas as a result of movement of harvests from the first quarter to second quarter of this year, “Early Wet Planting Program” of the government in Central Luzon and sufficient water supply.

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

PRICES

The seasonally adjusted farmgate price of palay and retail price of rice for the second quarter of 2012 increased by 2.05 percent and
0.11 percent, respectively, from their first quarter levels. On the other hand, the seasonally adjusted wholesale price of rice for the second quarter of 2012, recorded a decrease of 0.33 percent from the previous quarter’s level.

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

This quarter’s deseasonalized prices at all market levels were higher than last year’s price quotations.

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