By Anna Gabriela A. Mogato
AVERAGE farmgate prices for palay, or unhusked rice, nearly reached P23 per kilogram (kg), rising 17.36% year on year in the first week of September, data from the Philippine Statistics Authority showed.
Week on week, palay prices posted a 1.32% increase to P22.98 per kg. Prices of the staple grain first broke all-time high records in May when it reached P21 per kg levels.
It has since risen to P22 per kg in August, and again to just shy of P23 at the start of September.
Wholesale and retail prices of both well-milled and regular-milled rice similarly rose as lean season reaches its end.
• Average wholesale price of well-milled rice rose 15.80% year on year to P45.51 per kg. Week on week, this presents a 1.38% increase.
• Average retail price of well-milled rice grew 14.58% year on year and 1.94% week on week to P48.40 per kg.
• Average wholesale price of regular-milled rice, on the other hand, accelerated faster by 19.74% year on year to P42.59 per kg. This is also a 1.72% increase from the previous week.
• The average retail price of regular milled rice likewise jumped to P45.27 per kg, higher by 19.04% year on year and 2.44% week on week.