The Philippine Statistics Authority (PSA) reported that the average farmgate price of palay (unmilled rice) decreased in early September, falling to P17.64 per kilo or by 2.2 percent from the previous week’s level of P18.04 per kilo.

The latest quotation, however, increased at a faster annual rate of 8.4 percent from its average price of P16.28 kilo in September 2019, PSA said in its weekly monitoring report.

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