Palay farm gate prices rise 6%

MANILA, Philippines — Farm gate prices of palay (unmilled rice) increased by 6.34 percent, the Philippine Statistics Authority (PSA) said.

In its regular update, PSA reported that the average price of palay rose to P18.91 per kilogram during the first week of October from P17.79 per kg last year. On a weekly basis, however, it went down two percent.

Farm gate price of white corn grain posted a double-digit annual growth of 30 percent as prices increased to P14.93 per kg from P11.49 per kg the previous year. Week-on-week, prices were also up 1.8 percent.

Price of yellow corn grain at the farm gate level likewise picked up three percent year-on-year to P11.44 per kg but decreased by a minimal 0.69 percent on a weekly basis.

Upward movements were also observed in wholesale and retail prices of well-milled rice during the period.

The average wholesale price of well-milled rice rose 2.19 percent to P39.25 per kg year-on-year but week-on-weak prices were slightly down.

The average retail price of well-milled rice rose 1.4 percent to P42.24 per kg but down by 0.13 percent week-on-week.

The wholesale price of regular-milled rice placed at P35.58 per kg during the period was higher by 2.43 percent from the previous year’s level.

The average retail price of regular milled rice at P38 per kg increased by 1.78 percent from last year’s figures.

Price gains were also noted for wholesale yellow corn grain but there was  a slight decline in the retail prices.

The average wholesale price of yellow corn grain increased seven percent while retail price of yellow corn grain declined 2.5 percent.

Wholesale price of white corn grain quoted at P19.63 per kg rose 26 percent.

The average retail price went up 19 percent to P29.96 per kg year-on-year and increased by one percent on a weekly basis.