The farmgate price of dry palay (unmilled rice) rose 28.2% year on year in June to a national average of P21.78 per kilogram, the Philippine Statistics Authority (PSA) reported, as covered by BusinessWorld.
Farmgate prices were down 0.7% compared with May levels, indicating some month-on-month moderation after the sharp annual increase. The PSA's latest data covers transactions at the farm level before processing and marketing costs.
Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) posted the largest year-on-year jump in farmgate price in June, reflecting regional supply and demand dynamics. The higher palay prices could support farmer incomes but may also pressure consumer rice prices in the coming months.