Farmgate price of palay increases in October 2022

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

                   Source: Farm Prices Survey, Philippine Statistics Authority

The average farmgate price of palay per kilogram at the national level inched up to PhP 17.37 in October 2022, an increase of 1.8 percent from the September 2022 average price of PhP 17.06 per kilogram. Year-on-year, it went up by 10.1 percent, relative to its price level of PhP 15.78 per kilogram in October 2021. (Tables A and 1)

All regions recorded positive year-on-year growth rates in October 2022. Region XI (Davao Region) registered the highest annual increase of 18.1 percent in October 2022, while Region VIII (Eastern Visayas) had the lowest year-on-year increment of 3.6 percent. (Table 1)

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