Palay farmgate price up 7%

Farmgate prices of paddy rice increased 7.18 percent in the second week of November, the Philippine Statistics Authority (PSA) said.

In its regular update on palay, rice and corn prices, PSA said the average price of palay went up to P18.47 per kilogram from P17.40 per kg last year. On a weekly basis, it increased by 0.35 percent.

Farmgate prices of white corn grain grew 50 percent to P16.18 per kg. Week-on-week, prices were up one percent.

Prices of yellow corn grain likewise picked up by 10 percent year-on-year to P12.06 per kg and increased by a minimal one percent on a weekly basis.

The average wholesale price of well-milled rice rose three percent to P39.13 per kg but week-onweek prices barely improved.

On the other hand, the average retail price of well-milled rice increased two percent to P42.18 per kg.

The wholesale price of regular-milled rice was P35.64 per kg, four percent higher than the previous year. Its average retail price increased 2.36 percent to P37.97 per kg.

The average wholesale price of yellow corn grain increased six percent to P18.65 per kg.

Retail price of yellow corn grain fell 1.1 percent while wholesale and retail prices of white corn grain climbed 33 percent and 17 percent to P20.63 per kg and P30.26 per kg, respectively.