Farmgate price of palay accelerated in January 2022
The average farmgate price of palay per kilogram at the national level increased to PhP 17.15 during the month, 3.0 percent higher than the previous month’s average price of PhP 16.65 per kilogram. Year-on-year, average farmgate price of palay registered a growth rate of 4.6 percent during the month, from its average price of PhP 16.40 per kilogram during the same period of the previous year. (Tables A and 1)
Higher annual increases in the average farmgate prices of palay during the month were noted in five regions. Moreover, Ilocos Region and Eastern Visayas posted positive annual rates during the period, after exhibiting annual decreases in the previous month. (Table 1)
Among the regions, average farmgate price of palay in BARMM (Bangsamoro Autonomous Region in Muslim Mindanao) registered the highest annual increase during the period at 23.6 percent, while Region IV-A (CALABARZON) had the highest decline of -4.2 percent. (Table 1)
DENNIS S. MAPA, Ph.D.
National Statistician and Civil Registrar General