Palay farmgate prices up by 41% in January
THE farmgate price of palay, or unmilled rice, rose 41.4% year on year to an average of P25.08 per kilogram in January, according to the Philippine Statistics Authority (PSA).
In a report, the PSA said all regions recorded year-on-year growth in the average farmgate price of palay during the month.
The highest farmgate price gains recorded for January were in the Ilocos Region, where palay prices rose 52.2%. Central Luzon posted a price gain of 46.7%.
The lowest farmgate price gains were posted in Eastern Visayas at 3.3%.
On a month-on-month basis, the PSA said that the average farmgate price rose 9.6% from December, when the average was P22.89 per kilo.
It added that all regions except for Eastern Visayas saw a monthly increase in unmilled rice prices during the month.
The PSA said that Central Luzon reported the highest month-on-month rise at 27.2% from P21.91 per kilo the previous month.
Meanwhile, Eastern Visayas saw an 11.9% month-on-month decline in January compared with the P21.81 per kilo average the previous month. — Adrian H. Halili