Farmgate prices of palay, corn up in Feb

MANILA, Philippines - Farmers continued to enjoy higher farmgate prices of palay and white corn grain in the first and second week of February, the Bureau of Agricultural Statistics (BAS) announced over the weekend.

In its regular update on palay, rice and corn prices, BAS reported that the average price of palay rose by 0.97 percent during the survey period of Feb. 5 to Feb. 11 to P18.83 per kilogram from the previous week. Year-on-year, farmgate prices of palay frose by 16. 23 percent.

Farmgate prices of palay have been rising weekly since the start of the year. 

Farmgate price of white corn grain sustained its rise since late January. During the reference period, white corn grain prices rose 1.46 percent to P15.25 per kg from P15.03 per kg the previous week. Year-on-year, however, prices were down by 1.87 percent.

Price of yellow corn grain at the farmgate level, meanwhile, fell 0.93 percent week-on-week to P11.76 per kg during the reference period and by 1.51 percent year-on-year.

Upward movements were also observed in wholesale and retail prices of well-milled rice during the reference period.

The average wholesale price of well-milled rice rose 0.29 per percent to P37.63 per kg week-on-week during the reference period. Year-on-year prices rose by 14.83 percent.

The average retail price of well-milled rice rose to P40.06 per kg, up by 0.25 percent week-on-week and up by 13.59 percent year-on-year.

The wholesale price of regular-milled rice placed at P34.93 per kg during the reference period was higher by 0.40 percent from the previous week’s level and by 17.41 percent from last year’s quotation.

The average retail price of regular milled rice at P36.75 per kg increased by 0.16 percent from last week’s records. Compared to last year, this went up by 14.74 percent.

Price gains were also noted for wholesale and retail of yellow corn grain.

The average retail price of yellow corn grain at P36.75 per kg increased by

0.16 percent from last week’s records. Compared to last year, this went up by 14.74 percent.

Retail price of yellow corn grain registered a 0.69 percent increase during the reference period over the previous week’s retail price of P21.81 per kg. But, from last year’s P22.36 per kg, it was lower by 1.79 percent.

Both wholesale and retail prices of white corn grain fell week-on-week during the reference period.

Wholesale price of white corn grain quoted at P15.52 per kg declined by 0.39 percent from the previous week’s posting. Compared to last year’s quotation of P15.26 per kg, price gained by 1.70 percent.

The average retail price fell by 0.20 percent from the retail price of P20.10 per kg in the previous week. Relative to last year’s quotation of P19.50 per kg, price went up by 2.87 percent.