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The wholesale prices of rice eased slightly in May compared to the previous month, but remained higher on a year-on-year basis, according to the Philippine Statistics Authority (PSA).

The latest preliminary PSA data showed that the national average wholesale price of regular-milled rice declined by 3.1 percent to ₱46.01 per kilo in May from ₱47.46 per kilo in April.

The average price for the reference month, however, was 23.9 percent higher than the ₱37.13 per kilo recorded in May last year.

The PSA defines wholesale price as the price of a commodity transacted in bulk for further resale, net of discounts, allowances, and rebates.

Based on PSA data, Negros Island posted the highest average wholesale price of regular-milled rice at ₱51.23 per kilo in May, up 30.1 percent from ₱39.37 per kilo in the same month last year.

Meanwhile, the lowest average price was recorded in Cagayan Valley, where wholesale regular-milled rice fetched ₱38.83 per kilo, up from ₱33.41 per kilo a year ago.

The wholesale price of well-milled rice fell by 3.6 percent to ₱50.12 per kilo in May from ₱52 per kilo in the previous month. Still, this was 20.4 percent higher than last year’s average price of ₱41.62 per kilo.

By region, National Capital Region (NCR) registered the highest average price for well-milled rice at ₱54.68 per kilo, an increase of more than one-fourth from ₱43.47 per kilo a year ago.

Cagayan Valley, one of the country’s top rice-producing regions, also posted the lowest average price for well-milled rice at ₱44.54 per kilo, up from ₱38.41 per kilo in the previous year.

The national average wholesale price of premium rice softened by 3.5 percent to ₱53.42 per kilo in May from ₱55.38 per kilo in April.

Meanwhile, the nationwide average price of special rice eased by 2.1 percent to ₱56.38 per kilo from ₱57.59 per kilo in the previous month.

PSA data also showed that the national average wholesale price of yellow corn grains in May increased by 2.3 percent to ₱24.53 per kilo from April’s average of ₱23.95 per kilo.

The average price of white corn grains, on the other hand, inched up to ₱34.58 per kilo in the reference month from ₱34.31 per kilo in April.

The national average wholesale price of yellow corn grits jumped by 3.2 percent month on month to ₱33.94 per kilo, while white corn grits were 2.3 percent more expensive at ₱52.18 per kilo.

Source : mb