Rice prices improve slightly
The prices of rice in the country have improved slightly as harvest season began, a data from Philippine Statistics Authority (PSA) showed.
During the fourth week of September, the average farmgate price of palay at P22.93 per kilogram (/kg) was lower than its a week ago level by 0.91 percent. On the other hand, it rose by 18.62 percent compared to the previous year’s price of P19.33 per kilogram.
Wholesale trade of well milled rice also posted lower price during the same week, while that of retail moves up at faster rate than previous week.
Relative to the previous week’s level of P46.06 per kilogram, the average wholesale price of well milled rice at P46.04/kg went down by 0.04 percent. On the contrary, it gained by 17.12 percent from the same period in the previous year.
At the retail trade, the average price of well milled rice at P49.37/kh inched up by 0.41 percent from P49.17/kg in the previous week. Compared to the previous year’s price level of P42.27/kg, it was likewise higher by 16.80 percent.
Meanwhile, lower prices are noted this week for both wholesale and retail trades of regular milled rice.
The average wholesale price of regular milled rice this week at P43.12/kg decreased by 0.51 percent compared to its previous week’s level. Relative to the price in the same period of the previous year, it however climbed by 21.06 percent.
Quoted at P45.83/kg this week, the average retail price of regular milled rice also dropped by 0.07 percent compared to its level a week ago.