The Philippine Statistics Authority (PSA) recently reported a significant increase in the farmgate price of dry palay, also known as unmilled rice. According to the latest data, the national average price of dry palay rose 28.2% year on year in June to P21.78 per kilogram.
Compared to the previous month, however, farmgate prices declined by 0.7%. This slight drop in prices is a contrast to the substantial year-on-year increase observed in June.
The region of Calabarzon, which comprises Cavite, Laguna, Batangas, Rizal, and Quezon, experienced the largest year-on-year jump in farmgate price in June, with a 50.4% increase to P18.83 per kilogram. Despite this significant rise, prices in the region actually fell 2.2% month on month.
The Cagayan Valley region also saw a notable increase in farmgate prices, rising 47.6% to P21.55 per kilogram in June. This region posted the largest month-on-month increase of 6.2%, outpacing all other regions.
In contrast, the Negros Island Region experienced a 21.2% year-on-year increase in farmgate prices, reaching P22.51 per kilogram in June. However, this region also recorded the largest month-on-month drop of 11.2%.
Kalinga province saw the largest year-on-year rise in farmgate prices, with an increase of 108.7% to P19.87 per kilogram. Month on month, prices in Kalinga rose 11.9%.
On the other hand, Ifugao province reported a significant decline in farmgate prices, with a 13.6% year-on-year drop to P18.42 per kilogram. Prices in Ifugao also fell 7.2% month on month, making it the province with the largest decline.
