go through Kyle Aristopher T. Atienza, reporter
Agriculture is expected to release stronger growth in the second quarter.fiThe Ministry of Agriculture (DA) said on Sunday that rice and corn production could not rise.
The second quarter’s Pay (MMT) is expected to be 4.36 million tons (MMT), which will be a 13% increase from the same period last year, the DA said in a statement.
This also represents the 4.34 MMT forecast released in April.
The increase was driven by Riceland’s growth, which is 9.2%, to 972,730 hectares and increased production, estimated at 4.48 tons per hectare, up from the previous 4.32 tons.
DA cites good weather, strong PALAY procurement through Rice Competitiveness Enhancement Fund (RCEF), contract agriculture programs, and the National Food Administration (NFA).
NFA currently buys PALAY for a price between P18 and P24 per kilogram.
PALAY’s Farmgate price averaged P17.75 per kilogram, down 28.9% in May.
In the month, the price of the Pay Farmgate fell 1.6% in May.
The DA said corn production is expected to grow “more enormously”, noting that based on the permanent crops on May 1, the government increased its output in the second quarter to 1.487 MMT year-on-year.
The land area to be harvested will be expanded by 16% to 402,690 hectares.
Rice and corn production are the main factors in crop production, accounting for about 57% of agricultural output.
Meanwhile, the DA said in another statement that it placed the “final touch” on the draft bill aimed at restoring key functions of the NFA.
The bill aims to amend the Rice Destruction Act to grant certain regulatory powers to the NFA to “better manage buffer stocks” and “regulate the distribution and marketing of rice.”
The bill also aims to authorize the NFA to set parity for Paya and support farmers’ cooperatives and recipients of rice processing systems funded by RCEF.
“This will also refine the agreement on rice imports by DA DA to ensure that the country can respond quickly to provide commodity prices shortages and sudden peaks,” the DA added.
“This measure has greater flexibility in managing the appropriate levels of buffer stocks and ensuring they always have the best quality – not only is this an important tool to support the P20-KILO rice target, but also provides a broader government effort to ensure price stability and protect producers and consumers.”
