Philippines sees Q2 paddy rice output down 3.1% y/y.

The Philippines unmilled rice output is expected to drop 3.1% in the second quarter from a year earlier, pulled down by a decline in harvest area and inadequate water supply. The Philippine Statistics Authority said production in Apr-Jun will probably hit 4.022 million tonnes, based on standing crop, compared with 4.2 MMT harvested in the same period a year ago. The Southeast Asian nation, a frequent rice importer, is buying up to 500,000 tn of rice in two tenders this month to rebuild depleted buffer stocks. Vietnam and Thailand won supply deals involving half of that volume.