The average retail price of four fertilizer grades in October rose by as much as 18.08 percent compared to year-ago levels, according to the Philippine Statistics Authority (PSA).
“The average dealers’ prices of the four fertilizer grades at the national level generally went up in October 2018 compared [to] their levels in the previous month and in October 2017,” the PSA said in its monthly report, titled “Updates on Fertilizer Prices.”
The average retail price of urea in October rose to a 31-month high of P1,075.88 per 50-kilogram bag, 18.08 percent higher than the P911.12 per bag quotation recorded a year ago.
“The country’s monthly average dealers’ price of urea at P1,075.86/sack in October 2018 was higher by 1.94 percent from its level in the previous month,” the report read.
“Compared with September 2018, the average dealers’ price of urea during the month went up in all regions except in Northern Mindanao,” it added.
The PSA observed the highest price of urea in the Autonomous Region in Muslim Mindanao (ARMM) at P1,308.75 per bag, while the lowest price was recorded in Soccsksargen at P1,009.38 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 P1,120.68 per bag, according to the PSA. The fertilizer cost P1,115.84 per bag in September and P1,086.84 per bag in October 2017.
“This was higher by 0.43 percent from a month ago,” the PSA said. “On an annual basis, it likewise rose by 3.11 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 P1,008.75 per bag.
“Relative to previous month’s levels, price increases were noted in 11 regions,” it added.
The October average retail price of ammosul was pegged at P615.64 per bag, 9.52 percent higher than the P562.15 per bag average quotation in the same period of 2017. The figure was also 0.99 percent over the P609.58 per bag average price level recorded in September.
“Except Mimaropa and Northern Mindanao, all regions recorded higher prices in October 2018 than in the previous month,” it said.
“The highest price of P913.75/sack was still noted in ARMM. Meanwhile, the lowest price of P530.94/sack was registered in Cagayan Valley. Relative to the prices in the same month of the previous year, all regions registered increases,” it added.
The national average retail price of ammophos in October reached P960.22 per bag, which was 1.05 percent higher than the P950.21 average quotation in the previous month. On an annual basis, the figure was 7.02 percent higher than the P897.23 per bag recorded last year.
“On a monthly basis, higher prices were posted in 14 regions in October 2018,” the PSA said. “The highest price during the month of P1,182.50/sack was still observed in ARMM while the lowest, at P868.13 sack, was recorded in Cagayan Valley.”
“Compared from a year-ago level, all regions, except CAR, exhibited higher prices during the period,” it added.