Rice prices drop in May; corn prices rise

Rice prices fell month-on-month in May, while those of corn rose, the Philippine Statistics Authority (PSA) reported.

Well-milled rice posted a 3.6% drop in price to P50.12 per kilogram in May. Year-on-year, prices rose 20.4%.

Premium rice prices fell 3.5% to P53.42 per kilogram month-on-month. They were up 18.8% year-on-year.

Regular-milled rice prices fell 3.1% compared to April to P46.01 per kilogram. Year-on-year, they increased  23.9%.

Special rice prices fell 2.1% month-on-month to P56.38 per kilogram and were up 15.7% year-on-year

The price of yellow corn grits rose 3.2% in month-on-month  to P33.94 per kilogram, and were up 13.4% from a year earlier.

The price of yellow corn grain, which is used in animal feed, rose 2.4% month-on-month to P24.53 per kilogram. Year-on-year they rose 15.9%.

The price of white corn grain, which is typically used for human consumption, rose 0.8% month-on-month to P34.58 per kilogram . It was up 72.6% year-on-year.

The price of white corn grits rose 2.3% month-on-month to P52.18 per kilogram in May. It rose 61.4% from a year earlier. — Marron Joshua F. Mendoza