Palay price still down in 3rd week of March
Credit to Author: EIREENE JAIREE GOMEZ| Date: Mon, 01 Apr 2019 16:31:17 +0000
THE farmgate price of palay continued to decline in the third week of March at P18.98 per kilogram, significantly lower from its week- and year-ago levels, the government reported on Monday.
In its latest price monitoring report, the Philippine Statistics Authority (PSA) said the average farmgate price of palay further dropped by 0.26 percent compared to the previous week’s P19.03 per kilo.
Likewise, it fell by 6.96 percent from P20.40 per kilo in the same period in 2018.
Agriculture Secretary Emmanuel Piñol has said the buying price of palay could fall to as low as P18 per kilo when the harvest season peaks and the additional rice imports of the National Food Authority arrive.
On a weekly basis, prices of regular and well-milled rice at both wholesale and retail trades also dropped in the third week of March.
The PSA said the average wholesale price of well-milled rice fell by 0.37 percent to P40.66 per kilo from previous week’s P40.81. At retail trade, the price went down by 0.20 percent to P44.33 per kilo from P44.42.
Similarly, the average wholesale price of regular milled rice dropped by 0.35 percent to P37.18 per kilo from week-ago’s P37.31. Its equivalent retail price was P40.30 per kilo, a 0.25-percent drop from P40.40 a week ago.
On the other hand, rice prices increased year on year, except for the wholesale price of well-milled rice which fell by 0.12 percent. Its price at the retail trade went up by 2.10 percent from last year’s P43.42 per kilo.
For regular milled rice, the average wholesale and retail price from year-ago levels increased by 0.16 percent and 1.54 percent, respectively.
Meanwhile, the farm gate prices of white corn grain grew 1.14 percent to P15.13 per kilo week-on-week but fell by 13.10 percent from P17.14 in the same period last year.
On a weekly basis, prices of yellow corn grain dropped by 0.07 percent to P13.83 per kilo. Prices were also lower by 2.81 percent year on year.
The average wholesale price of yellow corn grain was P18.50 per kilo, 7.27 percent lower drop from last year’s P19.95. Its retail price, however, climbed by 1.05 percent to P24 per kilo.
On the other hand, the wholesale prices of white corn grain rose by 8.47 percent to P22.16 per kilo year on year while prices at retail trade fell by 4.01 percent to P28.72 per kilo.
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