Rice wholesale prices edge down in June but annual pressures linger
(Manila Bulletin file photo)
The wholesale prices of rice maintained their downward trajectory in June, although certain areas such as the Davao region are seeing higher rice prices than the national average, according to the Philippine Statistics Authority (PSA).
The PSA said the national average wholesale price of regular-milled rice eased by 1.8 percent to ₱45.26 per kilo in June from ₱46.10 per kilo in the previous month.
Based on PSA’s preliminary data, the average price for June posted an increase of 24 percent from the ₱36.50 per kilo recorded in the same month last year.
Wholesale price refers to the price of a commodity transacted in bulk for further resale or processing, net of discounts, allowances, and rebates, according to the PSA.
PSA data showed that the Davao region registered the highest average wholesale price of regular-milled rice in June at ₱48.74 per kilo, up 27.7 percent from ₱38.17 per kilo in the same month last year.
Zamboanga Peninsula was not too far behind at ₱48.40 per kilo of regular-milled rice, an increase of 30.4 percent from last year’s average of ₱37.13 per kilo.
Meanwhile, the lowest average price was recorded in Cagayan Valley, with wholesale regular-milled rice selling at ₱40.78 per kilo, up four percent from ₱31.99 per kilo a year ago.
The PSA said the average wholesale price of well-milled rice declined by two percent to ₱49.19 per kilo in June from ₱50.18 per kilo in May.
The latest wholesale price for the rice variety is 20.1 percent higher than the average price of ₱40.97 per kilo last year.
By region, the National Capital Region (NCR) posted the highest average price for well-milled rice at ₱52.58 per kilo, up by nearly four percent from the prior year’s ₱43.61 per kilo.
Similar to regular-milled rice, Cagayan Valley also posted the lowest average price for well-milled rice at ₱45.13 per kilo, 19-percent higher than ₱37.80 per kilo in the previous year.
According to the PSA, the average wholesale price of premium rice in the country dropped by nearly three percent to ₱52.08 per kilo in June from the previous month’s ₱53.65 per kilo.
In addition, the nationwide average price of special rice dipped by 1.4 percent to ₱55.52 per kilo from ₱56.30 per kilo in May.
Meanwhile, the PSA said that the national average wholesale price of yellow corn grains in June rose by 3.8 percent to ₱25.45 per kilo from ₱24.53 per kilo in May.
The average price of white corn grains, on the other hand, eased by 2.5 percent to ₱34.90 per kilo in June from ₱35.78 per kilo in the previous month.
The national average wholesale price of yellow corn grits increased slightly by 0.1 percent to ₱33.87 per kilo on a monthly basis, while white corn grits declined by 2.5 percent to ₱50.50 per kilo.