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Philippines Economy News

Palay farmgate prices decline 1.2% in late July

palay farmgate prices decline 1 2 in late july - Palay farmgate prices decline 1.2% in late July

THE AVERAGE farmgate price of palay, or unmilled rice, fell 1.2% week on week to 18.63 per kilogram in the fourth week of July, with the price up 4.2% 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 0.1% to P39.34 while the retail price rose 0.1% to P42.63.

The average wholesale price of regular-milled rice rose 0.1% to P35.74 while the retail price rose 0.1% to P38.51.

The farmgate price of yellow corn grain fell 0.1% week on week to P12.77.

The average wholesale price of yellow corn grain rose 0.6% to P21 while the retail price was flat at P25.72.

The farmgate price of white corn grain fell 0.1% to P14.

The average wholesale price of white corn grain rose 0.7% to P17 while the retail price was flat at P28.10. — Revin Mikhael D. Ochave

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