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Philippines Economy News

Palay farmgate prices rise 0.9% in late Feb.

palay farmgate prices rise 0 9 in late feb 816x445 - Palay farmgate prices rise 0.9% in late Feb.

THE average farmgate price of palay, or unmilled rice, rose 0.9% week-on-week to P16.18 per kilogram (kg) in the fifth week of February, according to the Philippine Statistics Authority (PSA).

Year-on-year, the price declined 16.5%.

In its weekly update on palay, rice, and corn prices, the PSA said that both the average wholesale price and retail price of well-milled rice (WMR) fell 0.2% week-on-week to P37.11 and P41.15 respectively.

The average wholesale price of regular milled rice (RMR) rose 0.03% week-on-week to P32.78, while the retail price rose 0.1% to P36.20.

The farmgate price of yellow corn grain fell 1.7% week-on-week to P12.13.

The average wholesale and retail price of yellow corn grain rose 1.6% and 0.2% week-on-week to P21.42 and P24.78, respectively.

The farmgate price of white corn grain fell 0.8% to P13.21. The average wholesale price of white corn grain fell 0.1% to P16.08 while the average retail price rose 0.7% to P26.84. — Revin Mikhael D. Ochave

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