The Philippines' rice and corn harvests in the first quarter are expected to be below its forecasts due to insufficient water supply and intense heat brought about by the El Nino weather phenomenon, the government said on Tuesday. Unmilled rice output in the March quarter is estimated at 4.07 million tonnes, 1.9 percent below a previous forecast of 4.15 million tonnes, the Philippine Statistics Authority (PSA) said in a report, citing a survey of standing crops as of February 1. That would be 6.8 percent lower than the volume in the same period last year.
Corn output in the first quarter is estimated at 2.11 million tonnes, 4.8 percent lower than a previous forecast and down 11 percent versus the year-ago harvest, the PSA said. The Philippines, one of the world's top rice importers, has decided to delay its planned additional rice purchases for this year's requirements, citing adequate local supply.