THE AVERAGE farmgate price of palay fell 0.1% week-on-week to P16.04 per kilogram (kg) in the last week of February, with the price also declining 18% year-on-year, the Philippine Statistics Authority (PSA) said.

In its weekly update on palay, rice, and corn prices, the PSA said the average wholesale price of well-milled rice (WMR) rose 0.4% week-on-week to P37.19. The retail price rose 0.2% to P41.24.

The average wholesale price of regular-milled rice (RMR) fell 0.2% week-on-week to P32.77, while the retail price fell 0.4% to P36.16.

The farmgate price of yellow corn grain fell 0.6% week-on-week to P12.34, and was down 10.9% year-on-year.

The wholesale and average retail prices of yellow corn grain fell 2.1% and 0.3% to P21.09 and P24.73 respectively.

The average wholesale price of white corn grain rose 4.3% to P16.10.

The average farmgate and retail prices of white corn grain fell 0.4% and 0.2% to P13.31 and P26.66 respectively. — Revin Mikhael D. Ochave