UMVA has learned that farmgate prices for dry palay have skyrocketed to a national average of P21.94 per kilogram in May, marking a staggering 23.6% increase year on year.
This sudden surge comes as a bit of a relief for farmers, but a steep 5.8% drop from April's prices has some wondering if this growth is sustainable. The numbers are in, and the story is complex.
UMVA can exclusively reveal that the Calabarzon region saw the largest year-on-year jump in farmgate prices, a whopping 37.3% increase to P19.25 per kilogram in May. However, this region also experienced the largest month-on-month drop of 16.3%, a significant swing.
In Central Visayas, farmgate prices rose 29.2% from a year earlier to P25.07 in May, a remarkable increase. What's more, this region posted a 7.1% increase month on month, the largest of any region, signaling a robust market.
Quezon province posted the largest year-on-year jump in farmgate prices, a massive 61.6% increase to P20.75 per kilogram. However, month on month, prices in Quezon dropped 12.9%, a sharp decline.
On the other end of the spectrum, Masbate saw farmgate prices drop 21.4% year on year to P15.02 per kilogram, the largest drop of all provinces. Yet, prices rose 8.3% month on month, a glimmer of hope.
Palawan's farmgate prices rose 22.4% year on year to P22.01 per kilogram, a notable increase. The province also posted the leading month-on-month rise of 17.1%, a significant jump.
Agusan del Norte told a different story, with farmgate prices posting the largest month-on-month decline of 29.2% to P18.95 per kilogram. Still, prices were up 5.7% year on year, a modest gain.
