Thursday, June 11, 2020
The average farmgate price of cereals declined in the fourth quarter of 2019. Palay or paddy rice was sold at the farm at PhP14.32 per kilo, down by PhP4.86 from the PhP19.18 price of the same period last year. Matured corn grain white likewise exhibited price setback of PhP2.43. It was bought from the farmers at 11.22 per kilo on the average. Meanwhile corn grain yellow was traded at PhP11.02 per kilo, PhP3.10 lower compared from PhP14.12 per kilo in the same period of 2018 as shown in Figure 1.
Table 1 shows that Misamis Oriental had the highest farmgate price of palay at PhP15.97 per kilo. while Misamis Occidental farmers received the lowest at PhP13.49 per kilo of palay sold at the farm.
Meanwhile, matured corn grain white was sold highest in the province of Misamis Oriental at PhP11.44 per kilo and lowest in the province of Misamis Occidental with PhP10.24 on the average. Buying corn grain yellow at the farms was highest in Misamis Oriental at an average price of PhP12.21 while lowest in Bukidnon at PhP10.94 per kilo. Misamis Occidental had no price quotation because the commodity is not included in their provincial market basket.
Figure 2 showed the retail prices of well milled rice during the three-month monitoring at the different public markets in the region. Camiguin posted the highest average retail prices in all months with an average monthly retail price of PhP44.59 per kg during the fourth quarter. Meanwhile, Misamis Occidental consistently posted the lowest average monthly retail price of PhP40.84 during the said period. On the other hand, Bukidnon consistently showed rollback in prices from October to December while Misamis Oriental consistently showed retail price increase from October to December.
Figure 3 showed the retail prices of regular milled rice from October to December 2019. Camiguin consistently posted the highest average retail price during the quarter with an average montly retail price of PhP41.10. Misamis Occidental, on the other hand, consistently posted the lowest average retail price in all months during the quarter with an average monthly retail price of PhP36.40 per kg.
Meanwhile, Camiguin and Lanao del Norte consistently showed rollback in prices of regular milled rice from October to December while Misamis Oriental consistently showed retail price increase from October to December.
Table 2 shows the fourth quarter comparative average retail prices of cereals in the region for the year 2018 and 2019. It can be seen that prices of cereals dropped in 2019 as compared to its prices in the previous year.
The average monthly retail price of Well Milled Rice in the region during the fourth quarter of 2019 was at PhP41.96, lower by 10 percent from the recorded average retail price of the same period in 2018. On the other hand, the average monthly retail price of Regular Milled Rice in the region was recorded at PhP35.61, which is 17 percent lower from its recorded retail price in the same period of the previous year.
RUBEN D. ABARO, JR., CESE
For further inquiries, you may contact:
Statistical Operations & Coordination Division
Philippine Statistics Authority Regional Statistical Service Office 10
2nd Floor, Bldg. 4, Pride Rock Business Park
Gusa Highway, Cagayan de Oro City
Telefax: (088) 856-4778
TECHNICAL NOTES ON CENCEPTS AND DEFINTION
Farmgate Price- is the price received by farmers for their crops, livestock and poultry at the location of the farm. The marketing costs of transporting from farmgate to the nearest market or the first point of sale and market charges (if any) incurred in selling their produce are not included in the farmgate prices.
Retail Price- is the price at which the retailers sell commodities to consumers.