Palay farmgate prices rise 23.6% in May

FARMGATE PRICES for dry palay increased 23.6% year on year to a national average of P21.94 per kilogram in May, the Philippine Statistics Authority (PSA) reported.

Farmgate prices were down 5.8% compared with April, it said.

The Calabarzon region posted the largest year-on-year jump in farmgate prices at 37.3% to P19.25 per kilogram in May. It also had the largest month-on-month drop of 16.3%.

In the Central Visayas, farmgate prices rose 29.2% from a year earlier to P25.07 in May. Month on month, the region posted a 7.1% increase kilogram in April this year, the largest of any region.

Quezon posted the largest year-on-year jump in farmgate prices of any province, rising 61.6% to P20.75 per kilogram. Month on month, prices in Quezon dropped 12.9%.

In Masbate, farmgate prices dropped 21.4% year on year to P15.02 per kilogram, the largest drop of all provinces. They rose 8.3% month on month.

Farmgate prices in Palawan rose 22.4% year on year to P22.01 per kilogram. The province posted the leading month-on-month rise of 17.1%.

Agusan del Norte, farmgate prices posted the largest month-on-month decline of 29.2% to P18.95 per kilogram. They were up 5.7% year on year. — Marron Joshua F. Mendoza