World Bank sees Philippine rice output rising 2%


PHILIPPINE PRODUCTION of agricultural products is expected to have increased in 2016-2017, including a nearly 2% increase in rice output, according to data from the World Bank.

According to the bank’s January 2017 Commodity Markets Outlook, “Rice production is expected to increase nearly 2% in 2016-2017, driven by favorable growing conditions in Indonesia, Thailand (the world’s top rice exporter), and the Philippines.”

The Philippines ranks 8th in rice output and is seen to produce 11.5 million metric tons (MT) of rice or 2.3958% of the world production in 2016-2017, increasing from last year’s 11.4 million MT of rice produced in the country.

Leading the countries in rice production is China, followed by India, Indonesia, Bangladesh, Vietnam, Thailand and Myanmar.

Meanwhile, Philippine imports of rice are projected to fall to 1.3 million MT in 2016-2017 from 1.6 million MT in 2015-2016.

The Philippines ranks 2nd in maize production at 114.1 million MT or 10.99% of the world’s maize production.

According to World Bank, “combined global supply of wheat, maize, and rice are projected to reach 2,838 million MT during the 2016-2017 season, nearly 5% higher than last season’s record supplies.”

“These projections, which are highly likely to materialize given that the season is at an advanced stage, implying that 2016-2017 will be the fourth consecutive surplus year,” according to the report.

The Philippines also continues to lead in coconut oil production, taking up over 35% of world output in 2016-2017.

The World Bank expects the Philippines to recover in coconut oil production in 2016-2017 after a slump in 2015-2016.

Coconut oil production is expected to have increased to 1.0 million MT in 2016-2017 from the 909,000 MT in 2015-2016, which was lower than 1.099 million a year earlier.

Indonesia accounts for nearly 32% of global coconut oil output. A far 3rd is India with over 13%.

Coconut oil consumption is also expected to increase to 219,000 MT in 2016-2017 from 187,000 MT in 2015-2016.

Meanwhile, the Philippines ranks 5th in coffee consumption. The country consumed 5.875 million 60kg coffee bags in 2016-2017.

The Philippines is also a strong consumer of wheat, ranking 5th in wheat consumption.

According to World Bank data, the Philippines consumed 5.875 million 60kg bags of wheat or 3.83 of the world’s wheat consumption in 2016-2017.


Readers choice: TOP-5 articles of the month by UkrAgroConsult