Agriculture output growth flat to lower in 2nd quarter bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
RICE TRADERS are expected to depress their offer prices for palay, or unmilled rice, to give themselves a margin of safety should the international price of rice fall, threatening to flood the Philippine market with cheap imports, a farming organization said.
Federation of Free Farmers National Manager Raul Q. Montemayor said the buying price of palay, the form in which farmers sell their crop, could be purchased at “lower than normal prices to play safe” should traders come to believe that “international prices will eventually go down and cheap imports might surge again.”
Currently, Mr. Montemayor said in a mobile phone message, high international rice prices are keeping import volume down.
Published December 18, 2020, 1:30 PM
Even if a group of farmers in the Philippines said it may take a while for them to recover from Quinta, Rolly, and Ulysses, a foreign agency is convinced that these typhoons that struck the country last month will not have a significant impact on next year’s production.
“The recent typhoons were damaging to rice and corn but not enough to offset strong production in the first quarter of MY [market year] 20/21,” US Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) here in Manila (Post) said in the latest Global Agricultural Information Network (GAIN) report.