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Manila Bulletin devider Business devider Palay farmgate prices climb 18% in October

Palay farmgate prices climb 18% in October

Published Dec 1, 2023 05:12 am

At A Glance

  • The Philippine Statistics Authority (PSA) reported that the farmgate price of palay or rice per kilogram increased to P20.60 in October, up 18.1 percent compared to the same month a year ago.<br>On a month-on-month basis, the farmgate price of palay was also higher by 3.5 percent in October than in September at P19.91 per kilogram.<br>Of the regions, Northern Mindanao or Region 10 recorded the highest farmgate price of palay in October at P23.56 per kilogram.<br>All regions, except BARMM, recorded increases in year-on-year growth rates of the average farmgate prices of palay in October. 

The farmgate price of palay or rice per kilogram picked up at a faster pace in October this year, data from the Philippine Statistics Authority (PSA) showed.

PSA reported that the average farmgate price of palay in the country rose by 18.1 percent to P20.60 per kilogram in October from P17.44 in the same month a year ago.

Month-on-month, the farmgate price of palay was also higher by 3.5 percent in October than in September at P19.91 per kilogram.

Of the regions, Northern Mindanao or Region 10 saw the highest farmgate price of palay in October at P23.56 per kilogram, up 9.3 percent from the previous month.

Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) had the lowest average farmgate price of palay during the month at P17.36 per kilogram.

All regions, except BARMM, recorded increases in year-on-year growth rates of the average farmgate prices of palay in October. Region 10 posted the highest annual increase of 29.2 percent, while BARMM posted the lowest annual decline of 7.3 percent.

Meanwhile, on a month-on-month basis, 11 regions saw increases in farmgate prices of palay, while decreases were noted in five regions.

The highest monthly growth rate of palay price was registered in BARMM at 30.5 percent to P17.36 per kilogram versus the P13.30 recorded in September, while the highest decrease was posted in Region 13 (Caraga) which declined by 3.8 percent.

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Philippine Statistics Authority palay Rice prices
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