The Department of Agriculture (DA) has further slashed its palay output projection this year to 19.41 million metric tons (MT), nearly a million MT lower than its previous estimate of 20.4 million MT.
The latest production forecast is even 6.68 percent lower than the department's initial projection for the year of 20.8 million MT.
The DA's latest palay or unmilled rice production forecast could be the lowest output level since 2020 when the country harvested 19.294 million MT.
On an annual basis, the full-year projected palay output is 3.24 percent lower than last year's record-high harvest of 20.06 million MT.
Despite the foreseen decline in domestic palay output, the DA assures the public that the country would have sufficient rice supply until the end of the year with retail prices remaining stable.
This story is from the October 25, 2024 edition of The Philippine Star.
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This story is from the October 25, 2024 edition of The Philippine Star.
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