THE average farmgate price of palay, or unmilled rice, declined in the second week of October by 0.2% week-on-week to P15.53 per kilogram (kg), the Philippine Statistics Authority (PSA) said.

According to PSA’s weekly price update, the average wholesale price of well-milled rice fell 0.5% week-on-week to P37.85 per kg. Retail prices fell 0.1% to P41.89.

The average wholesale price of regular-milled rice fell 0.5% to P33.70 per kg, week-on-week. Retail prices declined 0.8% to P37.22.

The price of the staple grain has been falling in recent months after the implementation of the Rice Tariffication Law, which made the entry of imported rice easier.

Week-on-week, farmgate price of yellow corn grain declined 1.1% to P12.20 per kg. The average wholesale price rose 15.8% to P21.17. The retail price increased 6.0% to P25.71.

The average farmgate price of white corn grain fell 0.3%, week-on-week, to P13.47 per kg. The average wholesale price was stable at P16.80, as was the average retail price of P26.53. — Vincent Mariel P. Galang