Farmgate price of palay posted a positive trend in March 2023

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

                   r - revised 
                   Source: Philippine Statistics Authority, Farm Prices Survey

The average farmgate price of palay per kilogram at the national level increased to PhP 18.57 in March 2023, indicating a 6.5 percent increase from the PhP 17.43 average farmgate price per kilogram in March 2022. Month-on-month, it increased by 2.1 percent compared with the PhP 18.19 average farmgate price per kilogram in February 2023. (Tables A and 1)

Among the regions, the highest farmgate price of palay during the month was still posted in Region I (Ilocos Region) at PhP 20.83 per kilogram, while the lowest was recorded in Region VIII (Eastern Visayas) at PhP 16.49 per kilogram.

All regions recorded positive year-on-year growth rates in March 2023. Region I (Ilocos Region) posted the highest annual increase of 11.6 percent, while Region X (Northern Mindanao) registered the lowest year-on-year increment of 0.5 percent.

Month-on-month, 12 regions recorded increases in the average farmgate prices, while four regions posted decreases for this month. The highest month-on-month increase was noted in Cordillera Administrative Region at 10.5 percent, while the fastest decline of -13.3 percent was observed in Region VIII (Eastern Visayas). (Table 1)

The average farmgate price of palay at the national level for the first quarter of 2023 was computed at PhP 18.17 per kilogram, reflecting an increase of 3.9 percent from the previous quarter’s average farmgate price of PhP 17.49 per kilogram. Compared with the PhP 17.43 average farmgate price per kilogram in the first quarter of 2022, this quarter’s average farmgate price of palay registered an annual increase of 4.2 percent.

The highest average farmgate price for this quarter was recorded in Region I (Ilocos Region) at PhP 19.81 per kilogram, while the lowest was recorded in Region XIII (Caraga) at PhP 16.91 per kilogram. (Table 2)

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