Palay farmgate prices continue upward trend

Farmgate prices of paddy rice increased by seven percent as of the end 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 P18.60 per kilogram from P17.38 per kg last year. On a weekly basis, it rose by a measly 0.22 percent.

Farm gate prices of white corn grain grew 53 percent to P16.58 per kg. Week-onweek, prices were also up 1.5 percent.

Prices of yellow corn grain likewise picked up by 12 percent year-on-year to P12.22 per kg and increased by a minimal two percent on a weekly basis.

The average wholesale price of well-milled rice rose three per percent to P39.20 per kg year-on-year but week-on-week prices were slightly down 0.03 percent.

On the other hand, the average retail price of well-milled rice increased to P41.39 per kg, up two percent year-on-year.

The wholesale price of regular-milled rice was P35.71 per kg, four percent higher than the previous year. Its average retail price increased 2.56 percent to P38.01 per kg.

The average wholesale price of yellow corn grain increased 10 percent to P18.67 per kg.

Retail price of yellow corn grain fell 1.1 percent while wholesale and retail prices of white corn grain rose 34 percent and 17 percent to P20.85 per kg and P30.26 per kg, respectively.