Following a slight price increase in the previous week, the average farmgate quotation of palay (unmilled rice) dropped in the third week of July, reaching P17.80 per kilo, the Philippine Statistics Authority (PSA) said.

In its weekly update on palay, rice and corn prices, PSA said the latest quotation was 0.1 percent lower than the P17.81 per kilo a week earlier. Likewise, it further dropped by 17.6 percent from P21.59 per kilo in the same period in 2018.

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