Palay farmgate price declines 0.5% in mid-July to P18.49/kg

THE AVERAGE farmgate price of palay, or unmilled rice, fell 0.5% week on week to P18.49 per kilogram in the second week of July, with the price up 3.9% against year-earlier levels, according to the Philippine Statistics Authority (PSA).

In its weekly update on palay, rice, and corn prices, the PSA said the average wholesale price of well-milled rice fell 0.4% to P39.05 while the average retail price fell 0.3% to P42.27.

The average wholesale price of regular-milled rice fell 0.3% to P35.50 while the retail price fell 0.1% to P38.35.

The farmgate price of yellow corn grain was flat week on week at P12.82.

The average wholesale price of yellow corn grain rose 0.2% to P21.12 while the retail price rose 0.1% to P25.75.

The farmgate price of white corn grain fell 0.4% to P14.05.

The average wholesale price of white corn grain fell 0.8% to P17 while the retail price rose 0.4% to P28.20.

The PSA released two weeks’ worth of data in its latest report. During the first week of July, the farmgate price of palay fell 0.3% to P18.58 per kilogram — with prices up 4.5% year on year.

Meanwhile, the farmgate prices of yellow corn grain and white corn grain rose 0.4% and 0.8% to P12.82 and P14.11, respectively. — Revin Mikhael D. Ochave