THE Philippine Statistics Authority (PSA) said the average farmgate price for palay, or unmilled rice, fell 3.16% week-on-week in the second week of October to P21.17 per kilogram (kg).
The farmgate average was up 13.03% from the P18.73 per kg recorded a year earlier.
Wholesale and retail prices of well-milled and regular milled rice also fell, the PSA said.
The average wholesale price of well-milled fell 0.64% week-on-week to P45.16 per kg, slowing from the 15.38% rate of increase a week earlier.
At retail level the average for well-milled rice was P48.83, down 0.35% from a week earlier.
The average wholesale price of regular-milled rice was P42.20 per kg, down 1.03% from a week earlier.
The average retail price of regular-milled rice was P45.72, down 0.33% from a week earlier.
Separately, the Department of Agriculture (DA), National Food Authority (NFA) and Department of Trade and Industry (DTI) said they started to implement a suggested retail price (SRP) cap for rice since Oct. 27.
Philippine rice classified as regular-milled will be sold at no more than P39 per kilo, well-milled at P44 and premium rice priced not higher than P47 per kilo under the SRP. — Reicelene Joy N. Ignacio
