THE Philippine Statistics Authority (PSA) said that average farmgate price of palay, or unmilled rice, rose 0.50% week-on-week to P20.11 per kilogram in the second week of December.
The average wholesale and retail prices of well-milled rice posted declines, the PSA said.
The average wholesale price of well-milled rice was at P42.19 per kg, down 0.19% from a week earlier. The average retail price of well-milled rice fell 0.61% to P45.65.
The average wholesale price of regular-milled fell 0.54% week-on-week to P39 per kg, while the average retail price fell 0.64% to P41.90.
On Tuesday, Agriculture Secretary Emmanuel F. Piñol said the National Food Authority will discontinue selling rice at P27 per kg by next year, upon implementation of the rice tariffication bill. The NFA’s role under the proposed law will solely be focus on maintaining a buffer stock, with its rice sourced from domestic farmers at its buying rate of P17 per kg, with P3.70 incentive.
Mr. Piñol said that the NFA will incur losses if it sells rice at rice P27 per kg.
The average farmgate price for yellow corn in grain form fell 0.14% week-on-week to P14.21 per kg in the second week of December.
The average wholesale price rose 0.15% week-on-week to P20.66 per kg. The average retail price rose 0.04% to P25.74 per kg.
The average farmgate price for white corn in grain form fell 1.44% week-on-week to P14.34 per kg.
The average wholesale price was flat at P20.90 per kg, as was its average retail price at P27.84. — Reicelene Joy N. Ignacio
