THE farmgate price of palay, or unmilled rice, rose 30.2% year on year to an average of P24.81 per kilogram in May, according to the Philippine Statistics Authority (PSA).
The PSA reported that all regions recorded year-on-year growth in farmgate prices during the month.
The highest prices in May were posted in the Western Visayas, where palay prices rose 39.7% to P27.76 per kilo.
The lowest farmgate price was recorded in the Eastern Visayas at P19.56 per kilo, up 11.7% year on year.
In April, the National Food Authority Council raised its purchasing price for palay in order for government procurement to remain competitive with prices offered by private traders.
The buying price for dry and clean palay was raised to P23 to P30 per kilo and that for fresh palay to P17 to P23 per kilo, depending on location and how the grain is graded.
On a month-on-month basis, the PSA said that the average farmgate price rose 1% from April.
The PSA said nine regions posted higher farmgate prices month on month, while seven regions posted declines.
Northern Mindanao and Central Visayas reported the highest month-on-month rises to 7.9%. The average farmgate prices in those regions were P26.66 and P27.28 per kilo, respectively.
Ilocos Region saw a 2.9% decline month on month in May. — Adrian H. Halili
