Palay farmgate prices rise 1.2% in first week of Jan.

THE average farmgate price of palay, or unmilled rice, rose 1.2% week-on-week to P16.70 per kilogram during the first week of January, with the price improving 4.6% 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 0.2% to P37.31 while the retail price was flat at P40.89.

The average wholesale price of regular-milled rice fell 0.2% to P33.33 while the retail price fell 0.1% to P36.15.

The farmgate price of yellow corn grain rose 1.4% week-on-week to P12.52.

The average wholesale price of yellow corn grain rose 0.8% to P19.99 while the retail price fell 1% to P24.45.

The farmgate price of white corn grain rose 1.1% week-on-week to P13.49.

The average wholesale price of white corn grain rose 2.1% to P17.17 while the retail price rose 0.9% to P25.87. — Revin Mikhael D. Ochave

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