Farmgate palay prices rise in 3rd week of Nov.

FARMGATE prices of palay, or unmilled rice, rose in the third week of November on a year-on-year and week-onweek basis, according to the Philippine Statistics Authority (PSA).

The agency’s report, “Updates on Palay Price and Corn Prices” released on Nov. 28 showed the average farmgate price of palay rose 7.13% and 0.48% from a year earlier and from a week earlier, respectively.

Meanwhile, the PSA noted that “continuous upward price adjustments are observed at both wholesale and retail trades of well-milled rice.”

At the wholesale level, prices rose 0.15% to P39.21 per kilogram, compared with the second week of November, and rose 2.96% from a year earlier.

The average retail price of well- milled rice during the week was P42.19 per kg, down 0.02% from a week earlier and up 1.89% from a year earlier.

As for regular-milled rice, the PSA said the average wholesale price rose 0.18% from a week earlier to P35.71 per kg and was up 3.85% from a year earlier.

The average retail price of regular- milled rice was at P38.02 per kg, up 0.04% from a week earlier and up 2.34% from a year earlier.

For yellow corn, the PSA said the average farmgate price was P12.04 per kg, down 0.17% from a week earlier and up 11.30% year on year.

The average farmgate price of white corn grain rose 0.99% from a week earlier to P16.34 per kg and was up 49.86% year on year. —