Palay farmgate price up 0.3% in early May

Credit to Author: EIREENE JAIREE GOMEZ| Date: Sun, 19 May 2019 16:36:45 +0000

After several weeks of decline, the average farmgate price of palay (unhusked rice) inched up to P18.40 per kilo in the first week of May, the Philippine Statistics Authority (PSA) said.
The PSA said the figure is 0.3 percent higher compared to the staple’s buying price a week ago.

Year-on-year (yoy) however, it further dropped by 12 percent from last year’s P20.97 per kilo, the PSA said in its weekly update on palay, rice and corn prices. Likewise, prices of both regular and well-milled rice also continued to fall during the reference period.

The average wholesale price of well-milled rice was P39.55, down 0.4 percent from a week ago. It further fell by 3.9 percent from P41.13 in the same period last year. Retail price was P43.30 per kilo, down 0.5 percent a week ago. It was also down P1.3 percent from last year’s P43.88.

On the other hand, the average wholesale price of regular milled rice was P36 per kilo,down 0.5 percent week-on-week. Yoy, it dropped 4.5 percent from P37.70. Retail price was down 0.5 percent to P38.97 per kilo relative from P39.15 a week ago. It also down 2.7 percent from P40.04 per kilo yoy.

Meanwhile, the average farmgate price of yellow corngrain rose to P14,22 per kilo, up 0.1 percent and 1.5 percent week-on-week and yoy.

For white corngrain, farmgate buying price was P16.10 per kilo, up 0.4 percent from a week earlier but down 6.2 percent from P17.23 yoy.

PSA said the average wholesae price for both yellow and white corngrain in the first week of May remained at its previous week’s level.

Yellow corngrain’s wholesale price was P20.26 per kilo, up 0.7 percent from last year’s P20.12 per kilo, while that of white corngrain was P22.68 per kilo, up 13.2 percent P20.03 yoy.

Retail price for yellow corngrain was P24.89 per kilo, up 4.5 percent yoy. For white corngrain, retail price continued to fall 2.7 percent to P29.12 per kilo.

The post Palay farmgate price up 0.3% in early May appeared first on The Manila Times Online.

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