MANILA, Philippines — The average farmgate price for dry palay has sunk to its lowest this year just as farmers from typhoon-hit provinces continue to reel from losses due to the series of typhoons that hit this month.
From a high of P19.18 per kilogram in May, the average price has fallen by as much as 20 percent to P15.36 in October. The last time prices picked up was in August when it hit P18.39 a kilo. It has gone down consecutively since.
But Agriculture spokesperson Noel Reyes seemed to be unperturbed by these figures. In a phone interview, he said that the quotation is “okay,” adding that the slump is only due to the harvest season which lasts between October and Novem…
Keep on reading: Farmgate price for palay down 20% in October to P15.36