MANILA - The Philippine Statistics Authority reported that October to December palay or unmilled rice production rebounded in 2017, from its -3.62 percent growth in 2016.
Last year's production volume grew 4.37 percent to 7.32 million metric tons, exceeding 2016's 7.01 million metric tons, which was lower than the 7.27 million metric tons in 2015, latest PSA data showed.
The PSA attributed the growth in 2017 "to increase in areas harvested in the Cordillera Administrative Region, Cagayan Valley, Bicol, and Central Visayas due to sufficient water supply during the cropping period and recovery from damages caused by the series of typhoons in 2016".
“Use of high-yielding varieties and favorable weather conditions in most regions were cited," PSA added.
Growth in palay production volume contributed to the crop sub-sector's 2.66 percent increase during the October to December 2017 period.
The sub-sector accounted for 51.2 percent of total agricultural production, PSA said. Agricultural production grew by 2.2 percent in the fourth quarter of 2017, it added.
The PSA further noted that improved production in both livestock and poultry sub-sectors also contributed to the growth.
Meanwhile, the average farm gate price of palay from October to December 2017 grew further at a rate exceeding the crop sub-sector's 4.28 percent average price gain during the same period in 2016.
Palay price per kg. increased 6.13 percent last year to P17.92 from P16.88 in 2016, PSA data showed.
“This was influenced by higher buying price from traders, who were anticipating an increase in the market price of rice because of diminishing inventory in National Food Authority depositories," it said.
The PSA said last year's farm gate price of palay also exceeded the grain's 2015 average of PHP16.60 per kg.*PNA
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