outbrain
Close  

Farm-gate price of palay continues to slide

By: - Reporter / @kocampoINQ
/ 04:10 AM March 09, 2020

The average farm-gate price of palay slid anew during the fourth week of February as farmers continued to struggle a year after the passage of the rice tariffication law.

Based on the Philippine Statistics Authority’s price monitoring report, the buying price of palay declined to P16.04 a kilo from P16.06 the previous week, bringing this year’s average to P15.94 a kilo.

ADVERTISEMENT

Between 2015 and 2017, the average palay price was P17.23 a kilo.

The lowest recorded quotation was in Palawan at P12 a kilo, while the highest was in Misamis Oriental at P21.41 a kilo.

FEATURED STORIES

As for rice, prices varied depending on the quality. The average retail price for regular milled rice dipped by 1 percent to P36.16 a kilo against the rate during the first week of January this year, while a kilo of well-milled rice was sold at an average of P41.24 a kilo, up from P41.18 the previous week.

The Department of Agriculture said it would accelerate the implementation of government interventions under the rice competitiveness enhancement fund to help more local palay producers compete with the influx of affordable rice.

The goal is to bring the production cost of palay to levels that are at par with other rice-producing countries. To do this, the agency must be able to lower the current production cost of P12 a kilo to P6 a kilo through mechanization, extension services and other subsidies. INQ

Subscribe to Inquirer Business Newsletter
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, palay
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.