Palay farmgate price rises 9.4% in June
THE average farmgate price of palay, or unmilled rice, rose 9.4% year on year to P19.23 per kilogram in June, according to the Philippine Statistics Authority (PSA).
“All regions, except Eastern Visayas, continued to record positive year-on-year growth rates in the average farmgate prices of palay in June 2023,” the PSA said in a report.
The highest farmgate price of palay was recorded in Central Luzon at P20.98 per kilo, up 18.8% from a year earlier.
Western Visayas followed with an average of P20.69, up 7.9% from a year earlier.
The Ilocos Region average was P20.23, up 5.9% year on year.
The highest year-on-year rise took place in Caraga, where the average price rose 19.6% to P18.37 per kilo.
The lowest farmgate price was in Eastern Visayas, where palay fetched P17.62 per kilo at farmgate, down 3.2% from a year earlier.
On a month-on-month basis, the PSA said that the average farmgate price rose 0.9% from May.
“Ten regions recorded increases in the average farmgate prices of palay, while six regions posted decreases during the month,” it said, referring to month-on-month comparisons.
The PSA said Caraga recorded the highest month-on-month increase of 5%, while Northern Mindanao saw a 5.1% drop to P20.17. — Adrian H. Halili
