The average retail price of four fertilizer grades rose by as much as 18.53 percent in November compared to year-ago levels, according to the Philippine Statistics Authority (PSA).
“The monthly average dealers’ prices of the four fertilizer grades at the national level went up in November 2018 compared [to] their levels in the previous month and in November 2017,” the PSA said in its monthly report, titled “Updates on Fertilizer Prices.”
The average retail price of urea in November rose to a 32-month high of P1,102.05 per 50-kilogram bag, 18.53 percent higher than the P929.80 per bag quotation recorded a year ago.
“The country’s monthly average dealers’ price of urea at P1,102.05/sack in November 2018 was higher by 2.43 percent from its level in the previous month,” the report read.
“Compared with October 2018, the average dealers’ price of urea during the month went up in all regions except Mimaropa,” it added.
The PSA observed the highest price of urea in the Autonomous Region in Muslim Mindanao at P1,350 per bag, while the lowest price was recorded in Ilocos region at P1,030 per bag.
“Relative to a year-ago level, all regions posted higher prices this month,” the PSA said.
The average retail price of complete fertilizer in October was pegged at P1,128.89 per bag, according to the PSA. The fertilizer cost P1,120.68 per bag in October and P1,089.19 per bag in November 2017.
“This was higher by 0.73 percent from a month ago,” the PSA said. “On an annual basis, it likewise rose by 3.64 percent.”
The PSA said the highest price of complete fertilizer was recorded in ARMM at P1,383.33 per bag, while the lowest was registered in Cagayan Valley at P1,013.75 per bag.
“Relative to previous month’s levels, price increases were noted in 11 regions,” it added.
The November average retail price of ammosul was pegged at P627 per bag, 10.75 percent higher than the P566.13 per bag average quotation in the same period of 2017. The figure was also 1.85 percent over the P615.64 per bag average price level recorded in October.
“Except Calabarzon and Mimaropa, all regions recorded higher prices in November 2018 compared [to] previous month,” it said.
“The highest price of P947.50/sack was still noted in ARMM. On the other hand, the lowest price of P538.75/sack remained in Cagayan Valley. Relative to their prices in the same month of the previous year, all regions, except Calabaarzon, registered increases,” it added.
The national average retail price of ammophos in November reached P974.08 per bag, which was 1.44 percent higher than the P950.21 average quotation in the previous month. On an annual basis, the figure was 8.34 percent higher than the P899.09 per bag recorded last year.
“On a monthly basis, all regions except Calbarzon and Mimaropa posted higher prices in November 2018,” the PSA said. “The highest price during the month at P1,252.50/sack was still observed in ARMM while the lowest, at P897.88/sack, was recorded in Cagayan Valley.”
“Compared from a year-ago level, all regions exhibited higher prices during the period,” it added.