Well-milled rice prices average P56.90/kg in early March

THE national average retail price of well-milled rice in early March was P56.90 per kilogram (kg), Philippine Statistics Authority (PSA) reported on Tuesday.

The PSA reported that prices rose 1.1% during the March 1-5 period, which it calls the first phase of the month, compared with the P56.29 per kg average in late February.

Central Visayas posted the highest average retail price during the period, with well-milled rice selling for P58.95 per kg.

The National Capital Region (NCR) recorded the lowest retail price with well-milled rice prices at P52.63 per kg during the period.

The PSA said that the average price for a kilogram of regular-milled rice was P51.14 per kg during the first phase of March.

It reported that the Bangsamoro Autonomous Region in Muslim Mindanao posted the highest average price of P53.81 per kg for this variety of rice, while NCR was at the low end at P44.23 per kg.

In a separate report, PSA reported that rice inflation surged to 23.7% in February from 22.6% in January and 2.2% a year earlier. It also marked the highest reading for rice inflation since the 24.6% recorded in February 2009.

During the period, brown sugar averaged P75.86 per kg., down from P76.47 in the second phase of February.

The PSA reported that prices of brown sugar were highest in Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) at P88.10 per kg. The lowest regional price was reported in the Zamboanga Peninsula at P67.52 per kg.

Meanwhile, refined sugar averaged P86.90 per kg in early March. The high and low were set in NCR and Zamboanga Peninsula at P99.87 per kg and P78.98 per kg, respectively.

Red onion averaged P144.32 per kg in early March. The highs and lows were set in Eastern Visayas and Ilocos Region at P183.52 per kg and P84.17 per kg, respectively.

Pork liempo (belly) averaged P352.41 per kg in early March. Highs and lows were set in the Western Visayas and the Cordillera Administrative Region at P394.60 per kg and P308.60 per kg, respectively.

Galunggong or round scad posted an average retail price of P213.93 per kg in early March, little changed from the P213.92 per kg average during the second phase of February.

The average retail price for bangus or milkfish eased to P212.17 from the P213.17 posted in late February.

The Department of Agriculture said that prices of fish are expected to fall with the end of the fishing ban in parts of the Visayas and Mindanao.