Rice prices fell month-on-month in May, while corn prices rose, the Philippine Statistics Authority (PSA) reported. According to a report by BusinessWorld, well-milled rice posted a 3.6% drop to P50.12 per kilogram, while premium rice fell 3.5% to P53.42 per kilogram, and regular-milled rice dropped 3.1%.
On a year-on-year basis, rice prices continued to increase. Well-milled rice was up 20.4%, premium rice rose 18.8%, and regular-milled rice also recorded gains. The PSA attributed the monthly decline to improved supply conditions and government interventions.
In contrast, corn prices increased month-on-month, reflecting higher demand and tighter supply. The PSA report did not specify exact figures for corn but noted the divergence in price trends between the two staple commodities. The data covers retail prices monitored nationwide.