Palay prices down by 30%in second week of September
Philippine Statistics Authority (PSA) said that as of the second week of September, farm-gate prices of palay continued to go down, declining by 30.1 percent year-on-year from P23.14 per kilogram (kg) to P16.18/kg.
This is a decline of 0.6 percent week-on-week from the price level of P16.28/kg, PSA said.
Meanwhile, the average wholesale price of well milled rice went down by 16.8 percent to P38.43/kg from the previous year’s level of P46.18/kg. Week-on-week, this was a slight decline of 0.4 percent.
However, at the retail trade, the average price of well milled rice increase to P42.27/kg or by 0.2 percent from its level of P42.26/kg a week ago. Year-on-year, it went down by 14.2 percent from the price level of P49.27/kg.
As for the wholesale price of regular milled rice, the average price fell by 21.2 percent from previous year’s level of P43.49 to P34.29/kg. Compared to the previous week’s level of P34.40, this was a decline of 0.3 percent.
At the average, retail price of regular milled rice fell by 17.8 percent from P45.96/kg during the same period last year to P37.79/kg. This was also down from price level of P37.83/kg in the previous week.