Farmgate price of palay continued to increase in April 2023

Table A. Average Farmgate Prices and Growth Rates of Palay (Dry)
April 2022, March 2023, and April 2023

                   Source: Philippine Statistics Authority, Farm Prices Survey

At the national level, the average farmgate price of palay went up to PhP 18.79 per kilogram in April 2023, which indicates an annual increase of 9.1 percent from the PhP 17.23 per kilogram in April 2022. Similarly, it posted a month-on-month increment of 1.2 percent from its price level of PhP 18.57 per kilogram in March 2023. (Tables A and 1)

Among the regions, the highest farmgate price of palay in April 2023 was observed in Region X (Northern Mindanao) at PhP 20.77 per kilogram, while the lowest farmgate price of palay was still posted in Region VIII (Eastern Visayas) at PhP 16.09 per kilogram.

All regions continued to record positive annual increments in the average farmgate price of palay in April 2023. The highest year-on-year increase was registered in Region X (Northern Mindanao) at 14.6 percent, while the lowest annual increment was noted in Cordillera Administrative Region (CAR) at 3.7 percent.

Month-on-month, 12 regions recorded higher average farmgate prices, while CAR, Region I (Ilocos Region), Region II (Cagayan Valley), and Region VIII (Eastern Visayas) posted decreases for this month. Among the regions, Region X (Northern Mindanao) registered the highest month-on-month increase at 5.8 percent, while Region II (Cagayan Valley) recorded the highest decrease of -3.9 percent. (Table 1)

DIVINA GRACIA L. DEL PRADO, PhD
(Assistant National Statistician)
Officer-in-Charge, Deputy National Statistician
Sectoral Statistics Office