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Local traders bought dry unhusked rice at a higher price in June, according to the latest data released by the Philippine Statistics Authority (PSA).

A month before the start of the lean season for rice, PSA data showed that the average quotation for dry palay jumped by nearly 28 percent to P24.59 per kilo in June, from P19.23 per kilo a year ago. The lean season for rice is from July to September.

“Farmgate prices refer to the prices received by farmers for the sale of their produce at the first point of sale net of the total marketing cost paid by the farmers,” the PSA said.

“These prices are determined at the farmgate or first point of sale transactions and are also known as ‘producer prices.’”

On a monthly basis, the average farmgate price of palay in June slid by 0.8 percent from P24.79 per kilo recorded in May.

PSA data showed that the highest increase was observed in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), where the average prices registered a year-on-year growth of 42.8 percent.

The average palay farmgate price in BARMM reached P26.66 per kilo in June, higher than the previous year’s P18.67 per kilo.

The slowest year-on-year growth in farmgate prices was recorded in Eastern Visayas at 13.3 percent. The average palay price went up to P19.97 per kilo in June from P17.62 per kilo in the same period last year.

On a month-on-month basis, the highest increase was recorded in Ilocos Region at 4.4 percent. The same region also recorded the highest average palay farmgate price which averaged P28.37 per kilo in June, higher than last year’s P20.23 per kilo.

This was followed by Western Visayas at P28.30 per kilo; Central Visayas, P27.65; BARMM, P26.66; and Northern Mindanao, P26.11.

The lowest average palay farmgate price was registered in the Eastern Visayas where it reached P19.97 per kilo followed by Caraga where it hit P21.24 and the Bicol Region.

The PSA said the monthly data on the farmgate prices of palay are obtained from the results of the Farm Price Survey for Palay conducted on the last five days of the reference month.

Based on the agency’s survey of standing crops, the country’s paddy rice output likely dropped by 8.6 percent to 3.88 million metric tons (MMT) in the second quarter from the actual output of 4.25 MMT a year ago.

The latest figure is also 0.6 percent lower than the PSA’s initial estimate of 3.91 MMT.

‘Game changer’

House Committee on Appropriations Chairman and Ako Bicol Party-list Rep. Zaldy Co said Wednesday that he supports the National Irrigation Administration’s (NIA) latest initiative aimed at “revolutionizing irrigation” in rain-fed areas, thereby transforming them into productive lands year-round.

Co said the NIA Solar Irrigation project, which covers 71 sites across the Bicol Region, targets an area of 1,810 hectares and is set to benefit 4,560 farmers across the region.

With a total project cost of P1.5 billion, Co said the initiative promises significant advancements in agricultural productivity and income for the farmer-beneficiaries.

“This initiative by the National Irrigation Administration is a game-changer for our farmers,” said Co.

“It meets the crucial needs of farmers on the river. It will increase the harvest, the ability of farmers to cultivate their lands, and their income. With the availability of water during the dry season, we can expect an estimated additional income of P140 million every year for our farmers.”

According to Co, the priority areas for this project are currently rain-fed zones that rely solely on rainfall for irrigation, limiting their planting seasons to only once a year.

With the project’s completion, these areas will have access to a steady water supply even during the dry months, and this development will enable farmers to plant rice during the rainy season and cultivate corn or other crops during the dry months, thus ensuring continuous agricultural activity throughout the year, the lawmaker added.

“Our farmers are the backbone of our economy. It is important to give them the equipment and resources they need to develop and strengthen their food production. This project not only boosts agricultural productivity but also uplifts the socio-economic status of our farmers.”

Source : businessmirror