Economy

Palay output growth estimated at 1.6% in three months to June













PRODUCTION of palay, or unmilled rice, in the second quarter was estimated to have risen 1.6% year on year during the second quarter, the Philippine Statistics Authority (PSA) said.

The PSA estimate for palay volume was 4.27 million metric tons (MT), higher than the actual output of 4.20 million MT a year earlier. The estimate was based on the standing crop as of June 1.

The new projection is 0.2% lower than the initial forecast of 4.28 million MT issued on April 1.

In the three months to June, the harvest area for the quarter is estimated to have increased by 0.8% year on year to 961.14 thousand hectares. If realized, yield per hectare will grow 0.7% to 4.44 MT.

“As of June 1, 2023, about 840.51 thousand hectares or 87.4% of the 961.14 thousand hectares updated harvest area of standing crop have been harvested with recorded palay output of 3.76 million metric tons,” the PSA said.

Of the standing palay yet to be harvested, 96.9% were at the maturing stage, while 3.1% were at the reproductive stage.

The PSA also reported that corn production is estimated to have declined 0.5% to 1.48 million MT, based on the standing crop as of June 1.

The new estimate was 0.3% higher than the 1.47 million MT issued on April 1.

The PSA cut its harvest area estimate by 2.6% to 408.89 thousand hectares, while the assumed yield per hectare is estimated to have risen by 2.3% to 3.61 MT.

“As of June 1, 2023, the updated area harvested for corn was 323.92 thousand hectares or 79.2% of the 408.89 thousand hectares updated area of standing crop with reported corn production of 1.25 million metric tons,” the PSA said.

Of the standing crop, 86.5% were at the maturing stage, while 13.5% were at the reproductive stage. — Sheldeen Joy Talavera

Neil Banzuelo




Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:

TheProficientInvestor.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top