Palay farmgate prices up 9%

MANILA, Philippines — Farmgate prices of paddy rice increased 8.57 percent in the third week of October, the Philippine Statistics Authority (PSA) said.

In its regular update on palay, rice and corn prices, PSA said the average price of palay went up to P18.61 per kilogram from P17.14 per kg last year. On a weekly basis, however, it decreased by one percent.

Farmgate prices of white corn grain grew 38 percent to P15.48 per kg. Week-on-week, prices were also up 1.6 percent.

Prices of yellow corn grain likewise picked up nine percent year-on-year to P11.64 per kg and increased by a minimal 1.3 percent on a weekly basis.

The average wholesale price of well-milled rice rose 2.31 percent to P39.04 per kg year-on-year but week-on-week prices fell 0.28 percent.

On the other hand, the average retail price of well-milled rice increased to P42.18 per kg, up by 1.6 percent year-on-year.

The wholesale price of regular-milled rice was P35.58 per kg, 3.1 percent higher than the previous year.  Its average retail price increased 2.17 percent to P38.03 per kg.

The average wholesale price of yellow corn grain increased nine percent to P18.47 per kg.

Retail price of yellow corn grain fell 1.7 percent while wholesale and retail prices of white corn grain climbed 29 percent and 20 percent, respectively, to P19.90 per kg and P30.12 per kg.