THE average farmgate price of palay, or unmilled rice, rose 1.33% week on week to P19.06 per kilogram in the second week of May, with prices increasing 4.15% year on year, according to the Philippine Statistics Authority (PSA).
The P19.06 average price exceeds the P19 buying price of the National Food Authority (NFA), which serves as a buyer of last resort for domestic farmers. The price trend indicates that private traders are making stronger offers for the domestic harvest, after lowballing farmers last year with offers in the single digits.
In its weekly update on palay, rice, and corn prices, the PSA said the average wholesale price of well-milled rice fell 0.08% to P39.25 while the retail price rose 0.09% to P42.38.
The average wholesale price of regular-milled rice rose 0.93% to P35.73 while the retail price rose 0.71% to P38.17.
The farmgate price of yellow corn grain rose 0.24% to P12.48.
The average wholesale price of yellow corn grain rose 0.1% to P19.13 while the retail price rose 0.09% to P23.50.
The farmgate price of white corn grain fell 0.66% to P15.11.
The average wholesale price of white corn grain fell 1.04% to P19 while the retail price fell 0.36% to P27.90. — Revin Mikhael D. Ochave
