Farmgate price of palay posted positive trend in June 2022

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

r – revised
0.0 – less than 0.05 percent
Source: Farm Prices Survey, Philippine Statistics Authority

Relative to its price level of PhP 17.24 per kilogram in the previous month, the average farmgate price of palay per kilogram at the national level moved up to PhP 17.58 or by 2.0 percent in June 2022. Year-on-year, the average farmgate price of palay posted a growth rate of 2.3 percent during the month, from its average price of PhP 17.18 per kilogram during the same period of the previous year. (Tables 1 and A)

Comparing from previous month’s year-on-year growth, five regions registered higher annual increases in the average farmgate price of palay this month. Moreover, Eastern Visayas gained a positive annual rate of 6.7 percent during the period, after exhibiting an annual decline in the previous month. (Table 1)

Among the regions, Western Visayas recorded the highest annual increment of 16.6 percent this month, while MIMAROPA Region had the highest decrease of -7.2 percent. (Table 1)

The April to June 2022 average farmgate price of PhP 17.35 per kilogram of palay at the national level indicates an increase of 1.6 percent from the average farmgate price of PhP 17.07 per kilogram recorded during the same period last year. Western Visayas posted the highest growth of 11.5 percent, while MIMAROPA Region recorded the highest decline of -6.8 percent. (Table 2)

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