Farmgate prices of palay stable at P21-22/kilo

Farmgate prices of palay has remained stable at about P21 to P22 a kilo since October, showing no reason for prices of milled rice to increase significantly, according to an umbrella group of agriculture organizations.

The Samahang Industriya ng Agrikultura (Sinag) also said on Monday that if there were any such price spikes, these would be the doings of rice smugglers and unscrupulous traders.

“Prices have remained stable and the stocks of milled rice from the harvest in October are already in warehouses and in the market,” said Sinag chair Rosendo So. “If prices went up as described in the media, it means smugglers and the traders they are in cahoots with want to show that prices are high to justify the need to import in huge volumes.”

Sinag is composed of more than 30 groups of rice, corn and vegetable farmers and traders, pork, livestock and poultry producers, aquaventure groups and fertilizer and pesticide suppliers. It has been regularly issuing price monitoring reports since October.

The group said that since rice smuggling has been reduced last year compared to previous years, farmers have been enjoying good prices for their produce.

However, palay prices are lower based on the Department of Agriculture’s own monitoring. According to the Bureau of Agricultural Statistics, farmgate prices averaged at P18.49 a kilo in the Jan. 15 to 21 period.