Producer prices of agri commodities drop by 3.9%

Gabriell Christel Galang - Philstar.com
Producer prices of agri commodities drop by 3.9%
A vendor prepares her vegetables for sale at a makeshift market along a street in Manila on November. 24, 2023.
AFP / Ted Aljibe

MANILA, Philippines — A downward trend was seen for the Philippines’ agricultural prices of producers during the first quarter of 2024.

According to the Philippine Statistics Authority (PSA), the country’s producer price index (PPI) for agriculture declined by 3.9% during the first three months of 2024.

The PPI measures the price changes in goods and services in the country.

In comparison, the first quarter of 2023 recorded the agricultural PPI at 3.1%.

Last quarter, fisheries saw a sharper decline in producer prices, dropping by 11.2% compared to 6.1% year-on-year.

However, the PSA noted that inland municipal fisheries experienced an 8.8% increase, contrasting with an 11.4% decrease in the same quarter last year.

A higher year-on-year increment was then observed in livestock and poultry, as it went from 2.5% to 5.4%.

“In the first quarter of 2023, its annual increment was registered at 0.4 percent,” the PSA reported.

For crops, the growth in the PPI decreased from 4% to 4.9% during the first quarter.

“In the same quarter of the previous year, its annual increment was recorded at 32.4 percent,” the statistics authority added.

In the first quarter of 2024, fruit and vegetable prices rebounded with a 7.4% increase from their previous 25.6% decline, while the PPI for cereals surged by 19.7%.

Consumer prices

The Department of Agriculture (DA) has studied the prices of basic commodities in various wet markets through their daily price watch.

As of June 13, locally well-milled rice averages between P48 to P55 per kilogram, while milled rice ranges from approximately P45 to P52 per kilogram.

A kilogram of pork liempo is priced between P370 to P400, while whole chicken ranges from P160 to P220.

Fish prices may vary based on the type. Bangus per kilo is around P140 to P240, tilapia at P100 to P160, and the yellow-fin tuna at P140 to P250.

The retail prices of ampalaya in wet markets range from P100 to P170, sitaw at P80 to P160, pechay tagalog at P110 to P200, kalabasa at P45 to P90, and talong at around P50 to P120.

More retail prices can be accessed via DA’s price watch.

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