Business Technology, Finance Technology & Information Technology
In April, palay’s average farmgate price increased.
According to the Philippine Statistics Authority (PSA), the average farmgate price of palay at the national level increased to PHP18.79 per kilogram in April.
According to PSA data issued late on Tuesday, this is up 9.1% from the PHP17.23 per kilogram in April 2022.
Similarly, it showed a 1.2 percent increase month over month from its pricing level of PHP18.57 per kilogram in March 2023, according to PSA.
Northern Mindanao has the highest farmgate price of palay among the areas, at PHP20.77 per kilogram.
While this happened, Eastern Visayas continued to have the lowest farmgate price, PHP16.09 per kilogram.
“All regions continued to record positive annual increments in the average farmgate price of palay in April 2023,” PSA stated.
Northern Mindanao had the biggest rise year over year (14.6%), while the Cordillera Administrative Region (CAR) had the lowest (3.7%).
According to the PSA, 12 regions saw average farmgate prices increase month over month, while the CAR, the Ilocos Region, the Cagayan Valley, and the Eastern Visayas registered losses for this month.
The largest month-over-month growth among the regions was 5.8 percent in Northern Mindanao.
The largest decline, at 3.9 percent, was seen in Cagayan Valley.
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