Challenges for Philippine Food and Agriculture : A Year-End Food and Agri Business Conference (Part 2)
Challenges and prospects for 2008 Commodity Highlights
Palay. Growth will continue to be moderate with the increased adoption of modern productivity technologies promoted through the GMA Rice Program as area harvested will basically stay the same. The higher budget for rice production will also be a plus factor for the sector’s growth. The PAGASA’s forecast indicates the start of a weak to strong La Nina which will likely last until early April of 2008. This can be good for production depending on its severity. A number of international agencies have indicated that there may be tight supply in 2008 with increased trade due to strong consumption. Rising demand and tight supply will keep world rice prices high.
