Farmgate price of palay continues to post downtrend in September 2022

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

r - revised
Source: Farm Prices Survey, Philippine Statistics Authority

The average farmgate price of palay at the national level in September 2022 continued to decrease at PhP 17.06 per kilogram from its price level of PhP 17.61 per kilogram in August 2022. Year-on-year, however, the average farmgate price of palay registered a growth rate of 5.5 percent, from its average price level of PhP 16.18 per kilogram in September 2021. (Tables A and 1)

Compared with the previous month’s year-on-year growth, Central Luzon showed continuous decline in average farmgate price of -2.6 percent in September 2022.

Western Visayas posted the highest annual increment of 12.3 percent, while Central Luzon had the lowest decline of -2.6 percent. (Table 1)

During the period of July to September 2022, the average farmgate price of a kilogram of palay at the national level reached to PhP 17.51, an increase of 3.5 percent from the average farmgate price of PhP 16.92 per kilogram during the same period of the previous year. Among the regions, Western Visayas posted the highest growth of 15.1 percent, while Eastern Visayas recorded the highest decline of -7.4 percent. (Table 2)

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