Connect with us

Hi, what are you looking for?

Economy

PSA upgrades estimate of Q1 palay production to 4.80 million metric tons

PRODUCTION of palay, or unmilled rice, is now estimated at 4.80 million metric tons (MT) in the first quarter, an upgrade from the previous estimate of 4.54 million MT, the Philippine Statistics Authority (PSA) said.

In a report on Thursday, the PSA said its new estimate was based on the standing crop as of March 1.

The new estimate remains below the initial forecast of 4.84 million MT issued on Jan. 1.

The PSA said the area planted to rice rose 3.2% to 1.18 million hectares, with yield per hectare thought to have grown 2.4% to 4.08 MT.

The PSA said about 632.40 thousand hectares or 53.8% of the updated standing crop has been harvested.

“Out of the area harvested as of March 1, 2023, actual production was recorded at 2.55 million metric tons,” it said.

Of the area remaining to be harvested, 12.5% of the crop is in the reproductive stage while 87.5% is maturing.
The PSA also updated its initial estimate of corn production for the first quarter to 2.56 million MT, which would represent an improvement over the year-earlier output of 2.44 million MT.

The new estimate, however, is 0.1% lower than the PSA’s initial forecast for the period of 2.564 million MT issued on Jan. 1.

Area planted to corn during the period is estimated to have risen to 2.6% year on year to 671.20 thousand hectares.

The yield per hectare of corn is thought to have increased 2.2% year on year to 3.72 MT, compared to the 3.64 MT actual yield a year earlier.

“About 398.67 thousand hectares or 57.9% of the 688.62 thousand hectares updated area of standing crop have been harvested as of March 1,” the PSA said.

Farmers are also estimated to have harvested 1.43 million MT of corn across 398.67 hectares of farmland.

Of the remaining corn crop, 7.6% is at the reproductive stage while 92.4% is at the maturing stage. — Sheldeen Joy Talavera

Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

You May Also Like

Economy

THE Philippine Solar and Storage Energy Alliance (PSSEA) said it asked the Energy Regulatory Commission (ERC) to raise the green energy auction reserve (GEAR)...

World News

SYDNEY – Australia’s 30 biggest pension funds increased their investments in key coal, oil and gas producers by 50% in 2022 despite the funds‘ long term commitments to net zero carbon emissions, environmental activist group Market...

Economy

THE environmental impact of open-pit mining should not pose an obstacle to the practice, which increases the efficiency of mining operations and potentially generates...

World News

BEIJING – China has issued guidance to all provinces to build a basic elderly care system by 2025, state-run Xinhua news agency said on Sunday, in the latest step to prevent a demographic crisis. Who...

Dislaimer: FutureMoneyFate.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 © 2023 FutureMoneyFate.com All Rights Reserved. Spirit