Wholesale rice prices down, corn up in Nov.

WHOLESALE PRICES of rice posted sharp year-on-year declines in November, while corn prices inched up, according to preliminary data from the Philippine Statistics Authority (PSA).

The PSA said the national average wholesale price of well-milled rice declined 15.6% from a year earlier to P40.28 per kilo.

The biggest decline in wholesale prices for well-milled rice in November was logged in the Bicol Region, falling 20.4% to P37.36 per kilo. Meanwhile, wholesale prices in the National Capital Region rose 8.6% to P51.58 per kilo.

Average wholesale prices of regular-milled rice in November also fell 18.8% to P35.65 per kilo.

The Cagayan Valley saw the biggest decline in wholesale prices of regular-milled rice, with the regional average falling 26.4% to P30.7 per kilo.

Premium and special rice also recorded wholesale price declines, with national averages falling 12.4% and 8.9%, respectively.

Meanwhile, the national average wholesale price of yellow corn grains in November rose 16.9% from a year earlier to P23.82 per kilo. For white corn grains, average wholesale prices rose 30.7% to P24.54 per kilo.

Wholesale prices of yellow corn and white corn grits in November increased 1.5% and 2.9% year on year, respectively. — Vonn Andrei E. Villamiel