THE average farmgate price of palay, or unmilled rice, rose 8.6% year on year in July to P19.38 per kilogram, according to the Philippine Statistics Authority (PSA).
“Similar to the previous month, all regions, except Eastern Visayas, continued to record positive year-on-year growth rates in the average farmgate prices of palay in July 2023,” the PSA said in a report.
The highest farmgate price was recorded in the Central Visayas at P22 per kilo, 19.95% higher from a year earlier.
This was followed by Central Luzon with average palay prices hitting P21.04 per kilo, up 22.5% from a year earlier, the highest growth rate registered for the month.
The Ilocos region averaged P20.23 per kilo, up 5.9% year on year. July palay prices were flat from a month earlier.
The lowest farmgate price was in Caraga, where palay fetched P17.36 per kilo, up 12.3% from a year earlier.
Eastern Visayas recorded a year-on-year decline of 4%, with palay prices averaging P17.47 per kilo.
On a month-on-month basis, the PSA said that the average farmgate price rose 0.8% from June.
“Nine regions recorded increases in the average farmgate prices of palay, while six regions posted decreases during the month,” it added.
The PSA said that Central Visayas reported the highest month-on-month rise at 10.7%, while Caraga saw a 5% decline. — Adrian H. Halili