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Philippines Economy News

Palay farmgate price falls 0.5%

palay farmgate price falls 0 5 816x445 - Palay farmgate price falls 0.5%

THE average farmgate price of palay, or unmilled rice, fell 0.5% week on week to P18.86 per kilogram in the third week of June, with the year-on-year increase at 5.7%, the Philippine Statistics Authority (PSA) said.

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 P39.36 while the average retail price fell 0.3% to P42.61.

The average wholesale price of regular-milled rice fell 0.4% to P35.71 while the retail price fell 0.1% to P38.47.

The farmgate price of yellow corn grain rose 1.1% to P12.78.

The average wholesale price of yellow corn grain fell 0.7% to P20.88 while the average retail price rose 0.2% to P25.72.

The farmgate price of white corn grain rose 0.4% to P14.02.

The average wholesale price of white corn grain fell 2.9% to P16.88 while the retail price rose 2.2% to P28.10. — Revin Mikhael D. Ochave

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