Palay output forecast cut after heavy floods in July – BusinessWorld Online
THE Department of Agriculture (DA) said it reduced its forecast for palay (unmilled rice) production following the July floods.
Palay production is now expected to come in at 20.09-20.39 million metric tons (MMT), against the previous forecast of 20.46 MMT, the DA said in a statement.
Palay production remains on track to exceed the 2024 total of 19.09 MMT, it said.
Year-ending rice inventory is now projected at around 3.86-3.96 MMT, the DA said.
Palay output was 9.08 MMT during the first half, up 6.4% year-on-year due to favorable weather and improved government support to the industry.
The DA said it expects the second half to account for 55% of palay output. — Andre Christopher H. Alampay
