Farm-gate price of rice up nearly 7%

The average farm-gate price of paddy in the fourth week of November rose by nearly 7 percent to P18.6 per kilogram (kg), from last year’s P17.38 per kg, according to the Philippine Statistics Authority (PSA).

The latest data from the PSA also showed the farm-gate price of paddy during the period was slightly higher than the previous week’s level of P18.56 per kg.

“The average wholesale price of well-milled rice at P39.20 per kg exhibited a price decrease of 0.03 percent from a week-ago quotation.

However, it was higher by 3.09 percent compared to the same week in the previous year,” the PSA said in a statement.

Data from the PSA showed that the average retail price of well-milled rice dropped by 0.03 percent, from the previous week’s level of P42.19 per kg. On an annual basis, the price rose by nearly 2 percent.

As for regular milled rice, the PSA noted that its average wholesale price was higher by 4.03 percent on an annual basis. Compared to its price a week ago, the PSA said it remained at P35.71 per kg.

“This week’s average retail price of regular milled rice at P38.01 per kg fell by 0.07 percent, from a week-ago level of P38.04 per kg. On an annual basis, it gained by 2.56 percent,” the PSA said.

On a yearly basis, the average farm-gate price of yellow corn rose by 12.43 percent to P12.22 per kg, according to data from the PSA. Compared to its previous week’s level, the average farm-gate price rose by 1.51 percent.

“The average farm-gate price of white corn at P16.58 per kg climbed by 1.49 percent, from P16.34 per kg in the previous week. Relative to a year-ago quotation of P10.84 per kg, it likewise rose by 52.92 percent,” the PSA said.

Data from the PSA showed that the average wholesale price of yellow corn during the week was pegged at P18.67 per kg, nearly 10 percent higher than the previous year’s level of
P17.02 per kg.

“A price cut of 0.03 percent was recorded for the average retail price of yellow corn at P22.44 per kg during the week. It also went down by 1.07 percent compared to a year-ago quotation of P22.69 per kg,” the PSA said.

As for white corn, the PSA noted that the average wholesale price rose by 34.3 percent to P20.85 per kg, from the previous year’s quotation of P15.53 per kg.

“The average retail price of white corn grain remained at P30.26 per kg for four consecutive weeks.

However, it registered a 16.68-percent hike from its previous year’s level,” the PSA said.