The Philippine Statistics Authority (PSA) has monitored an increase in the farmgate prices of palay or rice plants in April this year.
In its latest data released on Tuesday, June 27, PSA said the farmgate price of palay increased by a month-on-month increment of 1.2 percent.
It said that the price level rose from ₱18.57 per kilogram in March 2023 to ₱18.79 per kilo in April 2023.
The rice plants farmgate prices in April 2023 was also higher as compared to the farmgate prices in the same period last year.
PSA said that palay had an 9.1 percent year-on-year increase, from ₱17.23 in April 2022 to ₱18.79 per kilogram in April 2023.
Mindanao had the highest farmgate price of palay among all regions with ₱20.77 per kilo in April 2023, it noted.
"[T]he lowest annual increment was noted in Cordillera Administrative Region (CAR) at 3.7 percent," PSA added.
According to the statistics office, Northern Mindanao had the highest month-on-month increase at 5.8 percent, followed by Western Visayas with 4.6 percent, Bicol Region with 4.5 percent, and Davao Region with 3.1 percent.
Meanwhile, the highest month-on-month decrease was recorded in Cagayan Valley at -3.9 percent, Cordillera Administrative Region (CAR) at -2.9 percent, Eastern Visayas at 2.4 percent, and Ilocos Region at -2.1 percent.
