The rice market nationwide is undergoing a surge in palay prices, reaching P25/kg based on data from the Philippine Rice Information System (PRISM) of the Philippine Rice Research Institute (PhilRice).
From July 31 to Aug. 6, the average price of fresh palay stood at P17.83/kg while dry palay commanded P19.33 benefitting the early planters this 2023 wet season.
In June, the peak price of dry palay per kilogram reached P25 in Nueva Ecija, followed by Bataan (P24) and Bulacan (P23).
Arsenio Mariñas, a 53-year-old rice farmer and municipal agriculturist in Villaverde, Nueva Vizcaya, is thrilled to experience the high palay buying prices.
“I was overjoyed to sell my 10.2t harvest from my 1.7-ha rice field at P25/kg. Last season’s price was only P15-17/kg. My fellow farmers were also pleased with the increased palay prices, which rekindled their interest in planting. As we have also received free seeds and fertilizers from the government, financial gains are high with palay price staying above P20/kg,” he said.
Farmers in San Carlos, Negros Occidental, are also reaping high palay prices this season.
“I’m happy with the increase in palay price, which increased by P1 after a week. I sold my harvest for P20/kg last July 29, and presently, it went up P21/kg for pick-up and P22/kg for delivery,” shared 53-year-old rice farmer, Monica Baculi.
She also pointed out that the palay price frequently fluctuates, particularly during the rainy season, especially with pest infestations, resulting in varying impacts on their earnings.
Meanwhile, 38-year-old Maria Lourdes Insao, said that even though half of her hectare suffered damage due to typhoon Egay, which resulted in a low harvest of 3.6t/ha, she was able to recover from the losses with good sales at P18/kg for the wet palay and P19/kg for the unspoiled harvest.
“I’m satisfied with the current price,” Maria said, acknowledging that it surpasses the P14-15/kg price from the previous year.
In Zamboanga del Sur, women-farmers of the Mahayag Farmers Integrated Multi-purpose Cooperative reported that their cooperative bought their produce at P25-P28/kg.
“We’re lucky that we’re able to sell at a good, high price, from the previous low prices of P13-P18. We’re enjoying this price because we’re the first to harvest but we expect prices to not be as high as the harvest peaks. We’re happy with this development, but we also hope that something can be done so that the rice remains affordable for the consumers,” Beatriz Presilda said.
PRISM data on palay price can be accessed in https://prism.philrice.gov.ph/.
