Average wholesale and retail prices of rice in Philippines 8% higher year-over-year in August, 4% higher than July
September 11, 2013
(Global Data Point)
– THE average wholesale and retail prices of well-milled and regular rice were higher in August, according to the latest report released by the Bureau of Agricultural Statistics (BAS).
The BAS, an attached agency of the Department of Agriculture (DA) noted that the average wholesale price of well-milled rice at P36.01 per kilogram in August was 8.27 percent higher than last year's record.
Compared to prices in July, the price increase was pegged by the BAS at 4.35 percent.
The average retail price of well-milled rice at P37.85 per kilo, the agency said, was 6.02 percent higher than the price level registered in August 2012.
For regular milled rice, the BAS said the average wholesale price of P32.90 per kilo last month was 7.7 percent higher than last year's quotations.
At the retail level, the average price of P34.82 per kilo of regular milled rice was 7 percent higher than the price registered in August 2012.
Because there was no harvest of palay last month, the BAS said the farmgate price of unmilled rice went up by 5.83 percent on year to P18.15 per kilo. The price level is higher than the P17 per kilo support price set by the National Food Authority.
The DA said earlier that the price of rice should go down in the coming weeks as palay farmers in some regions have started harvesting palay.
Meanwhile, the BAS said the average wholesale price of yellow corngrain in August went up by 0.54 percent from last year's price.
At the retail level, yellow corngrain registered an average price of P21.80 per kilo, 0.22 percent higher than the average price registered in August 2012.
The wholesale price of white corngrain, said the BAS, was lower by 4.92 percent compared to the price level last year.
At the retail level, the BAS said white corngrain was sold at an average price of P19.53 per kilo in August. This is almost 7 percent lower than the quotaton in 2012.