Palay prices still rising

MANILA, Philippines — Farm gate prices of palay remained on the uptrend in the second week of January, data from the Philippine Statistics Authority (PSA) showed.

In its update on Philippine Palay, Rice and Corn Prices, the PSA reported that the average farm gate price of palay inched up by 0.1 percent to P16.72 per kilo in the second week of January.

“Likewise, it went up at an annual rate of 4.6 percent from its average price of P15.99 per kilo in the same period of the previous year,” the PSA said.

The PSA also reported that the average wholesale price of well milled rice rose by 0.2 percent to P37.37 per kilo.This  is also a 0.9 percent increase from P37.02 per kilo recorded in the same period last year.

Similarly, the average retail price of well milled rice also inched up by 0.1 percent in the second week of January to P40.93 per kilo from P40.89 per kilo in the week before.

“However, it dropped at an annual rate of -0.7 percent from its price level of P41.21 per kilo in the same week of the previous year,” the PSA said.

Meanwhile, the PSA reported that both wholesale and retail prices of regular milled rice decreased during the period.

Average wholesale price of regular milled rice declined by 0.1 percent to P33.31 per kilo, while retail price averaged 0.03 percent lower at P36.14 per kilo.

The wholesale and retail prices, however, are higher than the prices registered in the same period last year of P32.78 per kilo and P35.96 per kilo, respectively.

The PSA also reported that the average farm gate price of yellow corn grain dropped to P12.51 per kilo during the week, 0.1 percent down from the P12.52 per kilo the week before.

“However, it moved up at an annual rate of 2.1 percent, relative to its average price of P12.26 per kilo in the same week of the previous year,” the PSA said.

In contrast, the average farm gate price of white corn grain increased by 2.5 percent to P13.82 per kilo during the week from P13.49 per kilo in the week before.

This is also a 2.9 percent increase from the P13.42 average price registered in the same period last year.

The average wholesale price of yellow corn grain decreased by 0.1 percent to P19.97 per kilo, while retail prices were  0.5 percent lower at P24.34 per kilo.

Similarly, average wholesale prices of white corn grain dropped by 0.2 percent to P17.13 per kilo, while retail prices dropped 0.6 percent to P25.71 per kilo.