THE farmgate price of palay, or unmilled rice, rose 18.1% year on year to an average of P20.6 per kilogram in October, according to the Philippine Statistics Authority (PSA).
The PSA reported that all regions except the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) posted increases in average farmgate prices during the period.
The highest farmgate price in October was reported in Northern Mindanao at P23.56 per kilo, up 29.2% from a year earlier.
This was followed by the Ilocos Region with average palay prices increasing 22.8% to P22.92 per kilo from a year earlier.
The lowest farmgate price was posted in BARMM, with farmgate prices of P17.36 per kilo. The region recorded the only year-on-year decline at 7.3%.
The National Food Authority in September approved higher buying prices for palay of P19-23 per kilo for dry grain and P16-19 per kilo for wet. The previous buying price for palay was P16 per kilo wet and P19 per kilo dry.
On a month-on-month basis, the PSA said that the average farmgate price rose 3.5% from September.
The PSA said 10 regions saw higher farmgate prices of palay month on month, while five regions posted declines. — Adrian H. Halili
