Govt cuts Q1 grain production forecast

The Bureau of Agricultural Statistics (BAS) has lowered its palay and corn output projection for the first quarter of the year, citing contraction in harvest areas and lower yield due adverse effects of typhoons, intense heat and insufficient water supply.

In its February 2015 Round forecast, BAS said that palay production for January-March 2015 may reach 4.46 million MT, 2.8 percent lower than its January forecast of 4.59 million MT for the year earlier but still 3.6 percent higher than last year’s output of 4.31 million MT.