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RICE prices were lower in April, based on the latest data from the Philippine Statistics Authority (PSA).

Figures from the PSA indicate that the average wholesale quotation of regular milled rice dropped by 18.7 percent to P38.27 per kilo last month from P47.09 per kilo a year ago.

The fastest decline in regular milled rice was recorded in Central Visayas, where the price of the staple shrank by 35.9 percent to P33.92 per kilo from P52.94 per kilo in April 2024.

This was followed by Soccsksargen (South Cotabato, Cotabato, Sultan Kudarat, Sarangani and General Santos), where prices shrank by 26.2 percent last month to P35.04 per kilo from P47.46 per kilo in the previous year.

The slowest decline was recorded in the National Capital Region (NCR) where prices dipped by 4.1 percent to P44.67 per kilo in April from P46.56 per kilo in the same period last year.

Based on PSA data, the average price in April was also 4 percent lower than the P39.86 per kilo recorded in March.

Meanwhile, the PSA said well-milled rice also dropped by 14.9 percent to P43 per kilo in April from P50.50 per kilo a year ago.

The fastest decrease was registered in Soccsksargen, where prices of the food staple shrank by 26.2 percent to P37.20 per kilo in April from P50.38 per kilo in the previous year.

Western Visayas also trailed behind as prices contracted by 19 percent last month to P41.67 per kilo from P51.45 per kilo in April 2024.

Northern Mindanao registered the slowest decline as prices dipped by 2.4 percent to P45.86 per kilo last month from P46.99 per kilo in the previous year.

The average price of well-milled rice was also 3.3 percent lower than the P44.46 per kilo registered in March.

“Wholesale price refers to the price of commodity transacted in bulk for further resale or processing,” the PSA said.

“It is the actual ‘spot’ transaction price received usually by the wholesalers, distributors or marketing agents for large lots but net of discounts, allowances, and rebates.”

Source : businessmirror