Prices of palay, commercial rice remain high
Philippine Statistics Authority (PSA) said prices of palay and commercial rice both increased during the fourth week of August.
Based on its latest data, PSA said the average farmgate price of palay increased by 1.07 percent to P22.68 per kilogram from previous week’s level of P22.44 per kilogram. Compared to last year, it is a surge of 15.89 percent from the price of P19.57 per kilogram.
During the week, the average wholesale price of well milled rice also posted an increment of 2.21 percent to P44.49 per kilogram. Relative to the level a year ago of P39.30 per kilogram, it rose by 13.21 percent.
The average retail price of well milled rice at P47.12 per kilogram also posted a higher rate of increase from previous week’s level by 2.30 percent. Compared to a year ago level, it picked up by 11.63 percent.
At the wholesale trade, the average price of regular milled rice at P41.49 per kilogram saw an increase of 3.23 percent from the level a week ago. On an annual basis, it accelerated by 16.32 percent during the week.
Similarly, the average retail price of regular milled rice at P43.86 per kilogram went up by 3.01 percent from previous week’s level of P42.85 kilogram. It moved upward by 15.24 percent from the level in the same week of 2017.