Average palay farmgate price for the month of August fell 1.3 percent to P17.62 per kilogram (kg) from July’s P17.85 per kg, data from the Philippine Statistics Authority (PSA) showed.
However, August’s average price is higher by 2.3 percent from the P17.23 per kg in the same month in 2021.
PSA said five regions experienced decreases month-of-month as of August.
The worst performers were Eastern Visayas with a 16.2 percent drop or from P18.20 per kg to P15.26 per kg; Zamboanga Peninsula by 8.8 percent or from P18.25 per kg to P16.65 per kg; Soccsksargen by 7.3 percent or from P18.44 per kg to P17.09 per kg; Western Visayas by 3.9 percent or from P19.38 per kg to P18.61 per kg; and Calabarzon by 2.5 percent or P16.68 per kg to P16.26 per kg.
The 11 remaining regions recorded increases in average palay farmgate prices for the period.
Among those which recorded the best improvements were Cordillera Administrative Region, up by 4.3 percent or from P18.64 per kg to P19.45 per kg; Central Visayas by 3.6 percent or from P18.34 per kg to P19 per kg; and Caraga by 3.2 percent or from P15.46 per kg to P15.95 per kg.
The Samahang Industriya ng Agrikultura (SINAG) attributed the drop to “the continuous flooding of imported rice in the local market” that reached 3.1 million MT as of October 13.
SINAG said its recent agreement with the National Food Authority encouraging all local millers, traders and local government units to buy dry palay at 14 percent moisture content from local farmers at P19 to P20 per kg can help in increasing farmgate prices starting this month. – Jed Macapagal
