Philippines: Philippines Agriculture Profile

2014 accumulation rice and maize harvest set at record level

Harvesting of the 2014 secondary rice season, accounting for about 45 % of annual production, is currently underway and will conclude in mid-April. The Bureau of Agricultural Statistics forecasts this season’s rice output at a record level of 8.6 million tonnes, up 2 % from the corresponding season of last year.

Sufficient irrigation water supply, expansion of irrigated areas, improved seeds and higher fertilizer use has resulted in higher yield forecasts this season which compensate for the lack of increase in the area sown. Inclunding the revised official estimates of the major season harvest, completed in December 2014, FAO forecasts the 2014 accumulation rice production at a record level of 19.1 million tonnes, up 2 % year-on-year and 523 000 tonnes additional than before projected.

The 2014 maize production, inclunding the major and secondary seasons, is officially estimated at a record level of 7.8 million tonnes, 6 % above last year’s reduced level. The increase is the result of a 2 % expansion in plantings, inclunding higher yields, following favourable weather during the cropping season and use of improved seeds.

Cereal imports in 2014/15 marketing year estimate to increase from last year’s record level

Cereal imports for the 2014/15 marketing time(July/June) are estimate at 5.4 million tonnes, 6 % above last year’s record level and 25 % above the previous five-year average. The increase is attributed to higher wheat imports, which are are projected to increase by some 15 % above last year’s low level and reach 3.1 million tonnes, as a result of increased request from the food and feed industry. Maize imports are expected to decrease by 17 % to 500 000 tonnes, due to larger domestic availabilities from the good production in 2014. For rice, imports in 2015 are estimate to remain similar to last year’s above-average level of 1.8 million tonnes. The high level of rice imports reflects the Government’s efforts to stabilize domestic prices and replace public stocks.

In January prices of rice continued their decrease from record highs of previous months

The national average prices of regular and well-milled varieties weakened further in January, as a result of record supplies from the 2014 major harvest, completed in December and the beginning of the 2014/15 secondary season crop. However, prices remain above year-before levels, next steady increases since November 2013 on account of lower stocks. The National Food Authority, the country’s grains procurement agency, may import an additional 500 000 tonnes of rice in the next months to boost stocks and ensure price stability particularly during the lean season from June to August 2015.