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Farmgate price of palay drops 0.5% in 3rd week of Jan.

THE average farmgate price of palay, or unmilled rice, fell 0.5% week on week to P16.64 per kilogram in the third week of January, with the price up 3.6% from a year earlier, according to the Philippine Statistics Authority (PSA).

In its weekly update on palay, rice, and corn prices, the PSA said the average wholesale price of well-milled rice fell 0.1% week on week to P37.34 while the retail price was flat at P40.93.

The average wholesale price of regular-milled rice fell 0.1% to P33.28 while the retail price fell 0.2% to P36.08.

The farmgate price of yellow corn grain rose 0.9% week on week to P12.63.

The average wholesale price of yellow corn grain was flat at P19.97 while the retail price rose 0.04% to P24.35.

The farmgate price of white corn grain rose 3.1% week on week to P14.25.

The average wholesale price of white corn grain rose 2.4% to P17.54 while the retail price rose 0.4% to P25.81. — Revin Mikhael D. Ochave

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