THE AVERAGE farmgate price of palay, or unmilled rice, declined 0.4% week-on-week in the fourth week of October to P15.43 per kilogram (kg), the Philippine Statistics Authority (PSA) said.

According to the PSA’s weekly palay and corn price update, the average wholesale price of well-milled rice fell 0.4% week-on-week to P37.60 per kg. Retail prices also fell 0.3% to P41.75.

The average wholesale price of regular-milled rice fell 0.03% to P33.69 per kg, while retail prices decreased 0.2% to P37.02.

The declining price of the staple grain has been associated with the surge of cheap imported rice due to the implementation of Rice Tariffication Law in March.

The farmgate price of yellow corn grain averaged P12.19 per kg, up 0.3% week-on-week. The average wholesale price fell 0.2% to P21.15. The retail price declined 1% to P25.77.

The average farmgate price of white corn grain rose 0.8%, week-on-week to P13.49 per kg. The average wholesale price was stable at P17.13, as was the average retail price at P26.78. — Vincent Mariel P. Galang