The average farm-gate price of unmilled rice rose by nearly 5 percent to P19.33 per kilogram in the fourth week of September, from P18.45 per kg a year ago, according to the latest report of the Philippine Statistics Authority (PSA).
Data from the PSA also showed that the average farm-gate price of paddy rice had remained above P19 per kg during the lean months, when rice harvest goes down significantly.
On a weekly basis, however, farm-gate price was slightly lower than the previous week’s record of P19.46 per kg, according to the PSA report titled, “Updates on Palay Price and Corn Prices”.
Data from the PSA showed that the average retail price of regular milled rice during the period also went up by 1.52 percent to P38.05 per kg, from P37.47 per kg a year ago.
“The average wholesale price of regular milled rice this week was pegged at P35.55 per kg. This was cheaper than previous week’s level by 0.26 percent. Likewise, the average retail price of regular milled rice at P38.05 per kg declined by 0.05 percent during the week,” the report read.
On an annual basis, the PSA noted that the average wholesale and retail prices of well-milled rice went up.
“The average wholesale price of well-milled rice at P39.31 per kg posted a growth of 1.66 percent, from a year ago level of P38.67 per kg. At the retail trade, the average price of P42.27 per kg gained by 1.19 percent compared to the same period in the previous year,” the report read.
On a weekly basis, the average wholesale price of well-milled rice went down by 0.21 percent, from P39.40 per kg in the third week of September. Retail price was also lower by 0.14 percent.
Data from the PSA also showed that the average farm-gate price of yellow corn in the fourth week of September rose by 1.45 percent to P11.49 per kg, from P11.33 per kg a year ago. On a weekly basis, the price was higher by 0.53
According to the same PSA report, the average farm-gate price of yellow corn in the fourth week of September gained a 0.53-percent increment on a weekly basis.
“Price increments of 0.67 percent from previous week’s level and 22.73 percent from a year- ago quotation were registered for white corn grain during the week. The average farm-gate price this week was posted at P14.51 per kg,” the PSA said.
The country’s rice supply is expected to get a boost, as harvest will start this month, and imports have started arriving. As of October 4 the National Food Authority (NFA) said a total of 178,392 metric tons (MT), or 82.16 percent, of the 250,000 MT contracted by the food agency, were already delivered to various ports in the country.
The remaining volume of about 65,600 MT, or 15.44 percent, were either in transit or at laycan, while 6,000 MT have yet to be shipped from Vietnam, according to the NFA.
“While there is a slight delay in the arrival of part of the rice imports, the NFA has enough stocks to supply the needs of relief-giving agencies and local government units should such need arise,” NFA Administrator Jason Laureano Y. Aquino said.
As of September 28 the NFA said it has procured a total of 299,506 bags of palay under its regular procurement program and Farmers Option to Buy Back.
The NFA buys clean and dry palay at P17 per kg, with additional incentives totaling to P0.70 to P1 per kg for delivery (P0.20 to P0.50 per kg), drying (P0.20 per kg) and cooperative incentive fee (P0.30 per kg).