Farmgate price of palay drops in March 2022
Relative to its price level of PhP 17.71 per kilogram in the previous month, the average farmgate price of palay per kilogram at the national level moved down to PhP 17.43 or by -1.6 percent during the month. However, it posted a positive annual growth of 1.9 percent, from its average price of PhP 17.10 per kilogram in the same month of the previous year. (Table A)
After exhibiting annual increases in the previous month, the average farmgate prices of palay in Cordillera Administrative Region (CAR), Ilocos Region, MIMAROPA Region, and Davao Region registered year-on-year decreases this month. (Table 1)
The average farmgate price of palay in BARMM (Bangsamoro Autonomous Region in Muslim Mindanao) recorded the highest annual increase of 14.4 percent during the period, while Davao Region had the highest decline of -6.0 percent. (Table 1)
The January to March 2022 average farmgate price of PhP 17.43 per kilogram of palay at the national level indicates an increase of 3.9 percent from the 2021 same period price of PhP 16.77 per kilogram. BARMM posted the highest growth of 25.8 percent while Caraga Region recorded the highest decrease of -4.1 percent. (Table 2)
DENNIS S. MAPA, Ph.D.
National Statistician and Civil Registrar General