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Philippines Economy News

Palay farmgate prices continue falling in Sept.

palay farmgate prices continue falling in sept 816x445 - Palay farmgate prices continue falling in Sept.

THE average farmgate price of palay, or unmilled rice, fell 2.4% from a week earlier during the first week of September to P16.28 per kilogram (kg), the Philippine Statistics Authority (PSA) said.

The PSA said the average wholesale price of well-milled rice fell 0.4% week-on-week to P38.62 per kg. At retail, the price fell 0.3% to P42.26.

The wholesale price of regular-milled rice fell 0.6% to P34.40 per kg week-on-week. The retail price fell 0.4% to P37.83.

The PSA also reported that the farmgate price of both yellow and white corn grain fell during the period. Week-on-week, the farmgate price of yellow corn grain fell 0.2% to P13.04 per kg. The average wholesale price was stable at P21.53, but the retail price rose 0.4% to P26.06.

The average farmgate price of white corn grain fell 1.0% week-on-week to P14.38 per kg. The average wholesale price dropped 0.9% to P17.67. The average retail price fell 0.5% to P26.78. — Vincent Mariel P. Galang

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