Prices of rice up for straight six months
Philippine Statistics Authority (PSA) said the price of the country’s main staple moved up at a faster rate than previous week.
During the first week of July, the average farmgate price of palay at P21.48 per kilogram (/kg) posted an increment of 0.42 percent from previous week’s level of P21.39/kg. Similarly, it picked up by 10.61 percent from a year ago level of P19.42/kg.
As for wholesale and retail price of well milled rice, it also continue to move up but at slower rates.
During the week, the average wholesale price of well milled rice at P41.87/kg picked up at a slower rate of 0.22 percent from a week ago level.
It moved upward by 7.52 percent from previous year’s price of P38.94/kg.
Similarly, the average retail price of well milled rice at P44.69/kg posted a slower increment of 0.16 percent compared to its previous week’s level. Relative to a year ago level of P41.83/kg, it climbed by 6.84 percent.
As for regular milled rice, the wholesale and retail prices still registered positive rates, as per PSA.
The average wholesale price of regular milled rice at P38.69/kg during the week posted an increase of 0.36 percent from previous week’s level. It also went up by 9.98 percent from a year ago quotation of P35.18/kg.
At the retail trade, the average price of regular milled rice at P41.07/kg inched up by 0.17 percent from a week ago level. Relative to the previous year’s price level of P37.76/kg, it rose by 8.77 percent.