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Philippines Economy News

Palay farmgate price declines 3% in second week of September

palay farmgate price declines 3 in second week of september - Palay farmgate price declines 3% in second week of September

THE AVERAGE farmgate price of palay, or unmilled rice, fell 3% week-on-week to P17.12 per kilogram in the second week of September, with the price up 5.8% year-on- year, 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 P38.42 while the retail price rose 0.02% to P42.24.

The average wholesale price of regular-milled rice fell 0.5% to P34.81 while the retail price fell 0.1% to P37.89.

The farmgate price of yellow corn grain fell 2.5% week-on-week to P12.01. The average wholesale price of yellow corn grain fell 0.3% to P20.79 while the retail price fell 0.1% to P24.82.

The farmgate price of white corn grain fell 2.5% week-on-week to P13.18.

The average wholesale price of white corn grain fell 0.8% to P15.75 while the retail price was flat at P27.80. — Revin Mikhael D. Ochave

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