Farmgate price of palay continues to increase in July 2022
Table A. Average Farmgate Price of Palay (Dry) and Growth Rates
July 2021, June 2022, and July 2022
|
Month |
Average Farmgate Price (PhP/Kilogram) |
Growth Rate (%) |
|
|
Month-on-Month |
Year-on-Year |
||
|
July 2021 |
17.34 |
0.9 |
-3.8 |
|
June 2022 |
17.58 |
2.0 |
2.3 |
|
July 2022 |
17.85 |
1.5 |
2.9 |
Source: Farm Prices Survey, Philippine Statistics Authority
The average farmgate price of palay per kilogram at the national level inched up to PhP 17.85 in July 2022, which was 1.5 percent higher than the previous month’s average price of PhP 17.58 per kilogram. It also posted an annual gain of 2.9 percent compared with its average price of PhP 17.34 per kilogram during the same period in July 2021. (Tables A and 1)
Comparing from previous month’s year-on-year growth, higher annual increments in the average farmgate price of palay during the month were noted in Bicol Region and Western Visayas. In addition, after exhibiting annual decreases in the previous month, Ilocos Region, Cagayan Valley, CALABARZON, Zamboanga Peninsula, Davao Region, and Caraga registered positive annual growths during the period. (Table 1)
Western Visayas recorded the highest annual increase of 20.9 percent in July 2022 among the regions, while Eastern Visayas had the highest annual decline of -8.1 percent. (Table 1)
DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General
+632 8376 1959