The Philippine Statistics Authority issued a special released on November 2 providing updates on palay, rice and corn prices for October 2017.
Data obtained from PSA-Davao showed that farm gate price of palay continued on a downward adjustment during the week with the price of the palay P18.61/kg fallin by 0.67 percent from previous week’s level P18.73/kg.
On the other hand, it recorded increment 8.57 percent from a year ago quotation of 17.14 percent.
Prices of both yellow and white corn grains continued to climb upward, the average farm gate price of yellow corn grain inching up to P11.64/kg from a week ago quotation of 1.29 percent.
According to Romeo Recide, assistant secretary of Deputy National Statistician, SSO study shows that compared to the same period in the previous year, it also went up by 7.88 percent.
Similarly the average farm gate price of white corn grain at P15.48/kg posted a 1.58% growth from previous week’s level. The same period in the previous year showed it accelerated by 38.44 percent.
Wholesale and Retail Prices of Well Milled Rice price dropped from the previous week with an average wholesale price of P39.04/kg decreased by 0.28 percent. It gained by 2.31 percent from previous year level.
Likewise, the average retail price of well milled rice at P42.18/kg dropped by 0.14 percent from previous week’s level. Last year well milled rice ranged higher by 1.64 percent.
Wholesale trade of regular milled rice increased this week with the average of P35.58/kg compared to previous year’s price level of P34.50/kg price or an increase of 0.09 percent during the week while retail trade remained stable to P38.03/kg asrecorded in the previous week .It also posted a 2/17 percent increase from previous year.
