Farmgate price of palay accelerated in November 2023
Table A. Average Farmgate Prices and Growth Rates of Palay (Dry)
Philippines: November 2022, October 2023, and November 2023
Month | Average Farmgate Price (PhP/Kilogram) | Growth Rate (%) | |
Month-on-Month | Year-on-Year | ||
November 2023 | 21.96 | 6.6 | 26.6 |
October 2023 | 20.60 | 3.5 | 18.1 |
November 2022 | 17.35 | -0.5 | 6.1 |
Source: Philippine Statistics Authority, Farm Prices Survey
The average farmgate price of palay at the national level was recorded at PhP 21.96 per kilogram in November 2023. This indicates an annual increase of 26.6 percent from the PhP 17.35 per kilogram farmgate price in November 2022. Month-on-month, the average farmgate price of palay increased by 6.6 percent from its price level of PhP 20.60 per kilogram in October 2023. (Tables A and 1)
Among regions, the highest farmgate price of palay during the month was recorded in Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) at PhP 24.65 per kilogram, while the lowest farmgate price of palay was posted in Region VIII (Eastern Visayas) at PhP 18.88 per kilogram.
All regions recorded positive year-on-year growth rates in the average farmgate prices of palay in November 2023. Region XIII (Caraga) registered the highest annual increment of 35.7 percent, while the lowest annual increment of 14.2 percent was noted in MIMAROPA Region.
Month-on-month, all regions recorded increases in the average farmgate prices of palay during the month. The highest month-on-month growth rate was registered in BARMM at 42.0 percent, while the lowest increase was posted in Region XI (Davao Region) at 0.9 percent. (Table 1)
DIVINA GRACIA L. DEL PRADO, PhD
Assistant Secretary
Deputy National Statistician
Sectoral Statistics Office
See more at the Farmgate Prices of Palay (Dry) landing page
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