Farmgate price of palay posted positive trend in December 2022

Table A.  Average Farmgate Prices of Palay (Dry) and Growth Rates
December 2021, November 2022, and December 2022

                   Source: Philippine Statistics Authority, Farm Prices Survey

The average farmgate price of palay per kilogram at the national level increased to PhP 17.68 in December 2022, which was 1.9 percent higher than the previous month’s average price of PhP 17.35 per kilogram. Similarly, it went up at an annual rate of 6.2 percent relative to its price level of PhP 16.65 per kilogram in December 2021. (Tables A and 1)

Eight regions showed higher year-on-year increases in the average farmgate price of palay in December 2022 compared with their November 2022 farmgate prices. In addition, Cordillera Administrative Region gained a positive annual rate of 0.8 percent during the month after exhibiting an annual decline of -0.4 percent in November 2022. On the other hand, Region II (Cagayan Valley) further declined by -4.3 percent in December 2022, from -0.4 percent in November 2022. (Table 1)

Bangsamoro Autonomous Region in Muslim Mindanao registered the highest annual increment of 15.6 percent in December 2022, while Cagayan Valley had the biggest decline of -4.3 percent. (Table 1)

At the national level, the January to December 2022 average farmgate price of PhP 17.44 per kilogram of palay indicated an increase of  4.1 percent from the January to December 2021 average farmgate price of PhP 16.76 per kilogram. (Table 1)

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