Palay farmgate prices steady at P20/kilo in Dec
Credit to Author: EIREENE JAIREE GOMEZ| Date: Mon, 14 Jan 2019 16:17:41 +0000
THE average farmgate prices of palay (unmilled rice) was steady at P20 per kilogram during the entire month of December last year.
In its weekly update on palay, rice and corn prices, the Philippine Statistics Authority (PSA) said the average farmgate price of palay from first to fifth week were P20.01/kg, P20.11/kg, P20.02/kg, P20.14/kg and P20.14/kg, respectively.
While there was a slight increase in the third week of December, prices during the month stayed at the P20/kg mark. In some areas in the country, palay prices even dropped to as low as P14/kg,
This was attributed to the entry of the National Food Authority’s (NFA) additional rice imports to boost the country’s buffer stocks.
Prices started to post declines during the last week of September last year. Prior to this, prices had a series of increases starting in January. The peak was at P23/kg.
Meanwhile, the PSA said the wholesale and retail prices of well-milled and regular milled rice continued to fall in the month under review. In the last week of December, the average wholesale price of well-milled rice dipped by 0.10 percent to P41.98/kg from a week-ago level of P41.94/kg. However, it climbed by 6.90 percent from P32.27/kg a year ago. At the retail trade, the average price of well-milled rice dropped by 0.09 percent to P45.40/kg. Year-on-year, it moved up by 7.25 percent.
On the other hand, the average wholesale price of regular milled rice at P38.94/kg was down by 0.13 percent from the P38.99/kg in the prior week. It was up however by 8.92 percent from last year’s P35.75/kg. The average retail price of regular milled rice slightly picked up by 0.02 percent to P41.83/kg from previous week’s P41.82/kg. Year-on year, it went up by 9.91 percent.
The PSA likewise reported that farm gate prices of yellow corn grain dropped by 0.21 percent to P14.06/kg. Year-on-year, prices were up by 13.20 percent. Prices of white corn grain, on the other hand, grew by 0.84 percent week-on-week to P14.18/kg per kg and decreased by 9.85 percent on a year-on-year.
The average wholesale price of yellow corn grain rose by 9.40 percent to P20.49/kg from P18.73/kg year-on-year. Its average price at the retail trade likewise went up by 14.08 percent.
On the other hand, the wholesale and retail prices of white corn grain climbed by 13.83 percent to P21.20/kg and dropped by 5.05 percent to P28.22/kg, respectively.
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