Prices of rice still on the rise

MANILA, Philippines — Farmgate prices of paddy rice increased by seven percent in the first week of February, the Philippine Statistics Authority (PSA) said.

In its regular update on palay, rice and corn prices, PSA said the average price of palay went up to P19.37 per kilogram from P18 per kg last year.

The average wholesale price of well-milled rice rose four percent to P39.75 per kg year-on-year and week-on-week prices were also up 0.33 percent.

On the other hand, the average retail price of well-milled rice went up two percent to P42.59 per kg.

The wholesale price of regular-milled rice was P36.39 per kg, five percent higher than the previous year.  Its average retail price increased four percent to P38.77 per kg.

Farm gate prices of white corn grain jumped 44 percent to P16.84 per kg. Week-on-week, prices were also up three percent.

Prices of yellow corn grain likewise picked up by 15 percent year-on-year to P12.98 per kg and increased two percent on a weekly basis.

The average wholesale price of yellow corn grain climbed 13 percent to P19.01 per kg.

Retail price of yellow corn grain also inched up one percent while wholesale and retail prices of white corn grain expanded by 33 percent and 16 percent to P20.70 per kg and P29.96 per kg, respectively.