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Manila Bulletin devider Business devider PSA: Palay production costs rise in 2022

PSA: Palay production costs rise in 2022

Published Sep 28, 2023 07:40 am

At A Glance

  • The Philippine Statistics Authority (PSA) says the average cost to produce palay rose to P54,373 in 2022 per hectare.<br>Among the regions,  the highest average cost was recorded in Cagayan Valley at P69,537, while the lowest was observed in Eastern Visayas at P40,033.<br>The PSA says that farmers earned an average of P0.20 for every peso invested in palay farming with a net profit-cost ratio of 0.20.<br>Meanwhile, the average farmgate price of palay increased 25.8 percent to P22.16 per kilogram in August from the P17.61 per kilogram farmgate price a year ago.

The average cost to produce palay, or unmilled rice, rose to P54,373 in 2022 per hectare, according to the Philippine Statistics Authority (PSA).

Among the regions, the PSA said that the highest average cost was recorded in Cagayan Valley at P69,537, while the lowest was observed in Eastern Visayas at P40,033.

Meanwhile, the average cost of producing palay in the country was P14.98 per kilogram a year ago.

Among the regions, the highest production cost was recorded in Central Visayas at P22.43 per kilogram, while the least production cost was in Central Luzon at PhP 12.85 per kilogram.

The PSA said that farmers earned an average of P0.20 for every peso invested in palay farming with a net profit-cost ratio of 0.20.

Of the regions, the highest net profit-cost ratio was recorded in Northern Mindanao at 0.44, followed by Central Luzon at 0.41, and SOCCSKSARGEN at 0.31.

The statistics agency said the returns of palay farmers with deduction of production costs amounted to P10,836 per hectare in 2022.

Luzon recorded the highest average net returns at P25,002 per hectare. It was followed by Northern Mindanao with an average net returns of P24,627 per hectare and Cagayan Valley with P15,496 per hectare.

Palay prices up in August

The PSA reported that average farmgate price of palay increased 25.8 percent to P22.16 per kilogram in August from the P17.61 per kilogram farmgate price a year ago.

The average farmgate price of palay on a month-on-month basis increased by 14.3 percent from its price level of P19.38 per kilogram in July.

Of the regions, the highest farmgate price of palay in August was recorded in Central Luzon at P27.54 per kilogram, while the lowest farmgate price of palay was posted in Eastern Visayas at P18.04 per kilogram.

All regions recorded positive year-on-year growth rates in the average farmgate prices of palay. Central Luzon posted the highest annual increment of 56.2 percent, while the lowest annual increase was noted in Cordillera Administrative Region at 0.2 percent.

All regions recorded increases in the average farmgate prices of palay on a month-on-month basis. The highest month-on-month growth rate was registered in Caraga at 31.6 percent, while the lowest decrease was posted in Central Visayas at 2.1 percent
 

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Philippine Statistics Authority palay
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