Palay, corn Q3 output estimates downgraded

THE Philippine Statistics Authority (PSA) said it scaled back its production forecasts for palay (unmilled rice) and corn in the third quarter after evaluating new data on the standing crop.

In July, the PSA had estimated palay production  of around 4 million metric tons (MMT) but now expects the third-quarter total to come in at 3.93 MMT. If realized, the new estimate would represent a 19% year-on-year increase and a 9.86% quarter-on-quarter decline.

Corn production was initially estimated in July at 2.53 MMT but is now expected to come in at 2.41 MMT. — Andre Christopher H. Alampay