The average farm-gate price of dry palay as of mid-April has breached the P18-per-kilogram level, the first time in almost a year since quotations plunged due to higher rice imports, Philippine Statistics Authority (PSA) data showed.
Latest PSA weekly price monitoring report showed that average farm-gate price of dry palay has reached P18.28 per kilogram, 4.58 percent over the previous week’s P17.48 per kg.
This is now the highest average farm-gate price of dry palay in almost a year since the P18.35 per kg recorded in the second week of May 2019, based on historical PSA data analyzed by the BusinessMirror.
The national quotation for dry palay has been continuously increasing in recent months.
However, PSA data showed that the latest quotation was 2.19 percent lower than the P18.69 per kg recorded in the same period of last year.
But with the recent increase, the latest average quotation has trimmed the gap with the previous year’s figure, which has been as high as a double-digit percentage since 2019.
From April 8 to 14, the highest average price of dry palay was recorded in Pampanga at P25 per kg while the lowest average quotation was in Maguindanao at P14 per kg, PSA preliminary data showed.
PSA data showed that the average wholesale and retail prices of both well-milled rice and regular-milled rice continue to tread the same upward trend of palay farm-gate prices.
The average wholesale price of well-milled rice during the period reached P39.17 per kg, up from P38.59 per kg from the previous week but down from last year’s P40.03 per kg. At the retail level, average quotation for well-milled rice was pegged at P42.47 per kg, slightly higher than last week’s P42.40 per kg.
“The average wholesale price of regular-milled rice reached P34.91 per kg this week and P34.14 per kg in the previous week. Its price level in the same period a year ago was noted at P36.25 per kg,” PSA said.
“The average retail price of regular-milled rice was recorded at P37.39 per kg this week and P36.86 per kg in the previous week. During the same week of the previous year, its price level was posted at P39.38 per kg,” PSA added.
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