HIGHER PRICE. The Philippine Statistics Authority says Friday (Dec. 1, 2203) the average farmgate price of palay has reached PHP20.60 per kilogram in October. This was higher by 18.1 percent from last year's PHP17.44 per kg., the PSA said. (PNA file photo)
MANILA – The average farmgate price of palay at the national level went up by 18.1 percent in October this year, the Philippine Statistics Authority (PSA) said.
In a report on Friday, the PSA said the average farmgate price of palay at the national level during the month was at PHP20.60 per kilogram (kg.), up from the PHP17.44 per kg. in the same month last year.
Month-on-month, the average farmgate price of palay also increased by 3.5 percent from its price level of PHP19.91 per kilogram in September 2023.
"Among regions, the highest farmgate price of palay during the month was recorded in Region X (Northern Mindanao) at PHP23.56 per kilogram, while the lowest farmgate price of palay was posted in Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) at PHP17.36 per kilogram," the PSA said.
The PSA said all regions, except BARMM, recorded positive year-on-year growth rates in the average farmgate prices of palay in October 2023.
Northern Mindanao registered the highest annual increment of 29.2 percent, while an annual decrease of 7.3 percent was noted in BARMM.
Month-on-month, 11 regions recorded increases in the average farmgate prices of palay, while five regions posted decreases during the month.
The highest month-on-month growth rate was registered in BARMM at 30.5 percent, while the highest decrease was posted in Caraga with a month-on-month decline of 3.8 percent. (PNA)
