Farmgate price of palay goes down
Philippine Statistics Authority (PSA) said that during the fifth week of September, the farmgate price of palay continues to decline as harvest season began.
Quoted at P22.41 per kilogram (/kg) this week, the average farmgate price of palay fell by 2.05 percent. Compared to the average price in the same period of the previous year, it rose by 16.54 percent.
Prices at both wholesale and retail trades of well milled rice also dropped during the week. At the wholesale trade, the average price of well milled rice at P45.95/kg fell by 0.20 percent from previous week’s level. On the other hand, it picked up by 17.01 percent from the level a year ago of P39.27/kg.
Similarly, the average retail price of well milled rice at P49.30/kg was lower by 0.14 percent from the level a week ago of P49.37/kg. Compared to the previous year’s price level of P42.30/kg, it was however higher by 16.55 percent.
Meanwhile, wholesale trade of regular milled rice continues to move downward while that of retail picked up.
Compared to previous week’s level, the average wholesale price of regular milled rice at P43.08/kg went down by 0.09 percent. On an annual basis, it gained by 21.08 percent.
At the retail trade, the average price of regular milled rice at P46.04/kg inched up by 0.46 percent from previous week’s level. Relative to the level a year ago of P38.01/kg, it climbed by 21.13 percent.