In Q1, expectation of a substantial rise in palay harvest

In the first quarter, the Philippines is poised to experience a marginal rise in palay output, surpassing 4.8 million metric tons, despite concerns surrounding El Niño. This uptick is attributed to enhanced yields, as projected by the Philippine Statistics Authority (PSA), slightly exceeding last year’s 4.78 million MT. If realized, this would represent a record high for palay production during the initial quarter. The PSA’s estimation entails a harvest area spanning 1.17 million hectares, marginally smaller than the previous year. However, there is an anticipation of heightened productivity, with the average yield per hectare expected to elevate from 4.06 MT to 4.11 MT. Notably, a substantial portion of the harvest area has already been cultivated as of February 1. Concurrently, corn output in the first quarter is forecasted to reach approximately 2.67 million MT, marking an almost six percent increase compared to the previous year. Despite a slight adjustment from earlier projections, the PSA foresees expansion in both harvest area and yield per hectare relative to the previous year’s figures.

Business News: In Q1, expectation of a substantial rise in palay harvest