Farmgate prices for dry palay increased 23.6% year on year to a national average of P21.94 per kilogram in May, the Philippine Statistics Authority (PSA) reported. Prices were down 5.8% compared with April.
The Calabarzon region posted the largest year-on-year jump among regions at 37.3%, with farmgate prices averaging P19.25 per kilogram.
The data was released by the PSA and reported by BusinessWorld.