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Palay farmgate price falls in mid-February

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psa rice farmer

THE average farmgate price of rice in unmilled form, known as palay, declined 0.51% week on week in the second week of February to P19.63 per kilogram (kg), according to the Philippine Statistics Authority (PSA) in a report released Thursday.

The PSA said the average wholesale price of well-milled rice was P41.40 per kg, down 0.07% from a week earlier, while the average retail price fell 0.18% to P44.75 per kg.

The average wholesale price of regular milled rice, meanwhile, fell 0.16% week on week to P38.09 per kg. The average retail price rose 0.05% to P41.09 per kg.

The average farmgate price of yellow corn grain fell 1.15% week on week to P13.77 per kg. At wholesale the average price was flat at P20.41 per kg, while the retail average price was also unchanged at P25.35 per kg.

The average farmgate price of white corn grain fell 0.69% to P14.32 per kg from the previous week’s P14.42 per kg. The average wholesale price rose 0.14% to P20.91 per kg, while the average retail price was flat at P28.12 per kg.

According to PSA’s Quarterly Bulletin, palay production in the three months to December fell 2.2% year on year to 7.16 million metric tons (MT), while corn production for the period rose 10.8% to 1.81 million MT. — Reicelene Joy N. Ignacio