THE average farmgate price of palay (unmilled rice) in November fell by 8.7 percent at P20.03 per kilogram (kg) from P21.95 in the same period in 2023, the Philippine Statistics Authority (PSA) announced on Friday.
Data from the PSA also showed the November 2024 price dropped by 2.1 percent compared to P20.47/kg in October.
Fourteen of the country's 17 regions likewise reflected negative growth in average palay farmgate prices.
Region 13, or the Caraga Administrative Region (Agusan del Norte, Agusan del Sur, Dinagat Islands, Surigao del Norte and Surigao del Sur), recorded the biggest decrease in prices at 22.3 percent, while Region 8, Eastern Visayas, posted the biggest gain with a 15-percent price hike.
In the previous month, Region 7 (Central Visayas) had a 14.7-percent price decline.
On the other hand, six regions achieved a positive price growth rate compared to October, with the Cordillera Administrative Region or CAR (Abra, Apayao, Benguet, Ifugao, Kalinga and Mountain Province) posting an 8-percent increase.