Farmgate price of palay up in 2nd week of July
Credit to Author: EIREENE JAIREE GOMEZ| Date: Mon, 29 Jul 2019 16:17:54 +0000
The average farm-gate price of palay (unmilled rice) slightly increased by 0.5 percent to P17.87 per kilo in the second week of July, data from the Philippine Statistics Authority (PSA) showed.
In its weekly update on palay, rice and corn prices, the statistics agency said the latest average quotation of palay was higher than the P17.78 per kilo recorded a week ago. The figure, however, was down by 17.3 percent from last year’s average farm-gate price of P21.61 per kilo.
The industry have reported that palay prices have gone down to as low as P12 per kilo in some provinces in the country as a result of the implementation of Rice Tariffication Law.
The wholesale and retail prices of both well-milled and regular-milled rice continued to fall during the period, PSA said.
The average wholesale price of well-milled rice dropped by 0.3 percent to P39.08 per kilo from week-ago’s P39.21 per kilo. Year-on-year (yoy), it fell by 7.1 percent from P42.07 per kilo.
At the retail trade, the average price of well-milled rice was P42.88 per kilo, up 0.3-percent increase from last week’s P42.77 per kilo. Yoy, it moved up by 4.3 percent.
On the other hand, the average wholesale price of regular-milled rice fell by 0.1 percent to P35.31 per kilo from P35.34 per kilo a week earlier. It likewise dropped by 9 percent yoy.
At the retail level, the price of regular milled rice was P38.40 per kilo, down 0.1 percent from a week ago. The figure was down by 6.8 percent from P41.20 per kilo yoy.