Farmgate price of palay continued to increase in July 2023

Table A. Average Farmgate Prices and Growth Rates of Palay (Dry)  
Philippines: July 2022, June 2023, and July 2023 

Source: Philippine Statistics Authority, Farm Prices Survey

The average farmgate price of palay at the national level went up to PhP 19.38 per kilogram in July 2023. This indicates an annual increase of 8.6 percent from the PhP 17.85 per kilogram farmgate price in July 2022. Month-on-month, the average farmgate price of palay increased by 0.8 percent from its price level of PhP 19.23 per kilogram in June 2023. (Tables A and 1)

Among regions, the highest farmgate price of palay during the month was recorded in Region VII (Central Visayas) at PhP 22.00 per kilogram, while the lowest farmgate price of palay was posted in Region XIII (Caraga) at PhP 17.36 per kilogram.

Similar to the previous month, all regions, except Region VIII (Eastern Visayas), continued to record positive year-on-year growth rates in the average farmgate prices of palay in July 2023. Region III (Central Luzon) registered the highest annual increment of 22.5 percent, while Region VIII (Eastern Visayas) posted an annual decline of -4.0 percent.

Month-on-month, nine regions recorded increases in the average farmgate prices of palay, while six regions posted decreases during the month. Meanwhile, Region I (Ilocos Region) remained at its June 2023 average farmgate price of PhP 20.23 per kilogram. The highest month-on-month growth was registered in Region VII (Central Visayas) at 10.7 percent, while the highest decrease was posted in Region XIII (Caraga) at -5.5 percent. (Table 1)

DIVINA GRACIA L. DEL PRADO, PhD
Assistant Secretary 
Deputy National Statistician 
Sectoral Statistics Office