Updates on Farmgate Prices of Palay (Dry) May 2022

Reference Number: 

2022-301

Release Date: 

Wednesday, July 20, 2022

Farmgate price of palay increases in May 2022 coming from April 2022 downtrend

Table A.  Average Farmgate Price of Palay (Dry) and Growth Rates May 2021, April 2022, and May 2022

Month

Average Farmgate Price

(PhP/Kilogram)

Growth Rate (%)

Month-on-Month

Year-on-Year

May 2021

16.97

-0.6

-9.8

April 2022

17.23

-1.1

0.9

May 2022

17.24

0.1

1.6

                   Source: Farm Prices Survey, Philippine Statistics Authority

At the national level, the average farmgate price of palay per kilogram inched up to PhP 17.24 per kilogram or by 0.1 percent this month, from its price level of PhP 17.23 per kilogram in the previous month. Similarly, it went up at an annual rate of 1.6 percent, relative to its price level of PhP 16.97 per kilogram in May 2021. (Table A)

Comparing from previous month’s year-on-year growth, higher annual increases in the average farmgate prices of palay during the month were noted in Central Luzon, Western Visayas, and Zamboanga Peninsula. In addition, after exhibiting negative annual rates in the previous month, Ilocos Region, Cagayan Valley, Central Visayas, and Davao Region posted positive annual growths during the period. (Table 1)

Western Visayas registered the highest annual increment of 10.2 percent this month, while MIMAROPA Region had the highest decline of -5.8 percent. (Table 1)

 

DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General

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