Palay farmgate price up 1.8% in October  

THE average farmgate price of palay (unmilled rice) rose 1.8% month on month to P17.37 per kilogram (kg) in October, according to the Philippine Statistics Authority (PSA).

Year on year, the average price rose 10.1%, with all regions reporting price increases, according to the PSA.

“All regions recorded positive year-on-year growth rates in October 2022. Davao region registered the highest annual increase of 18.1% in October 2022,” the PSA said.

The farmgate price of palay rose to P17.12 per kg in Davao region in October, from P17.09 in September and P14.50 a year earlier.

In Central Luzon, farmgate prices rose to P17.72 per kg in October from P16.10 in September, and P16.09 a year earlier.

In Ilocos region, the farmgate price rose 8% year on year to P18.67 per kg.

The Cagayan Valley posted a 7% year-on-year increase to P17.17 per kg in October.

Eastern Visayas on the other hand posted the lowest year-on-year increase of 3.6% to P15.51 per kg. — Ashley Erika O. Jose