Farmgate palay price down 30% in mid-Sept

THE national average farmgate price of palay (unmilled rice) declined in the second week of September to P16.18 per kilogram, down 30.1 percent from P23.14/kg a year ago, the Philippine Statistics Authority (PSA) said.

In its weekly update on palay, rice and corn prices, PSA said the latest average quotation of the staple was also lower by 0.6 percent than P16.28/kg in the previous week.