PALAY production is projected to decline by 11.9 percent in the third quarter of the year to 3.35 million metric tons (MT) due largely to crop damage caused by recent typhoons, according to the Department of Agriculture (DA).
The DA was citing data from the Philippine Statistics Authority.
With a forecast loss of 358,000 MT based on historical damage and actual risks this quarter, total annual palay production is expected to reach 19.41 million MT, translating to approximately 12.69 million MT of milled rice, said DA Undersecretary Christopher Morales, in a statement yesterday.
The decrease in production would have been worse if not for higher production yield due to better seeds, farm equipment and other support provided through support funds for rice under the Rice Tariffication Law and the National Rice Program, the DA said.
Still, the national rice supply remains robust as 3.57 million MT of imported rice has arrived in the country as of October 14, the DA added.
That volume is 24 percent higher compared to the same period last year as the recent cut in tariff rates further incentivized imports, allowing for greater access to global rice markets and mitigating potential shortages, Morales said.
The DA expects the country to end the year with a rice supply of 3.83 million MT deemed enough to cover consumption for 100 days.
“This projection incorporates updated rice stock data, actual import arrivals and historical trends, ensuring the country’s rice needs are met despite the production drop,” said Morales.
Based on DA’s monitoring of public markets in the National Capital Region, the price of local well-milled rice is between P44 to P54 per kg and regular milled, P41 to P50 per kg, as of last Monday.
The price of imported well milled rice is P45 to P55 per kg, while imported regular milled rice ranges from P42 to P48 per kg.
Imported rice is priced at P54 to P65 for the special variety and P53 to P60 for premium.
For local rice, the special variety costs P57 to P65 per kg and premium, P52 to P58 per kg.
