Updates on Farmgate Prices of Palay (Dry) August 2022

Reference Number : 2022-423
Release Date : 24 October 2022

Farmgate price of palay decreases in August 2022

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

Month

Average Farmgate Price

(PhP/Kilogram)

Growth Rate (%)

Month-on-Month

Year-on-Year

August 2021

17.23

-0.6

-0.9

July 2022

17.85

1.5

2.9

August 2022

17.62

-1.3

2.3

                   Source: Farm Prices Survey, Philippine Statistics Authority

At the national level, the average farmgate price of palay per kilogram fell to PhP 17.62 per kilogram or by -1.3 percent this August 2022, from its price level of PhP 17.85 per kilogram in July 2022. However, it went up by 2.3 percent relative to its price level of PhP 17.23 per kilogram in August 2021. (Tables A and 1)

Among the regions, Western Visayas recorded the highest annual increase of 13.6 percent, while Eastern Visayas had the highest annual decline of -13.4 percent. (Table 1)

Moreover, after exhibiting an annual increase of 3.8 percent in July 2022, the average farmgate price of palay in Central Luzon registered a year-on-year decrement of -0.3 percent in August 2022. In addition, the  average farmgate price of palay in Eastern Visayas posted higher decrease of -13.4 percent in August 2022. (Table 1)

 

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

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