A recent report from the Philippine Statistics Authority (PSA) reveals a decrease in agricultural producer prices in the first quarter of 2024. The country’s producer price index (PPI) for agriculture dropped by 3.9% during this time period, compared to a 3.1% increase in the first quarter of 2023.
The decline in producer prices was particularly notable in the fisheries sector, which saw a 11.2% drop in prices compared to the previous year. However, the PSA highlighted a positive increase in inland municipal fisheries, which experienced an 8.8% growth.
Livestock and poultry also showed a higher year-on-year increment, increasing from 2.5% to 5.4% in the first quarter of 2024. Crop prices, on the other hand, saw a decrease in growth from 4% to 4.9%.
In the consumer market, the Department of Agriculture (DA) reported prices of basic commodities in various wet markets. The average price of locally well-milled rice ranged from P48 to P55 per kilogram, while pork liempo was priced between P370 to P400 per kilogram. Other goods like chicken, fish, and vegetables also had varying price ranges.
For more detailed retail prices, consumers are advised to check the DA’s price watch for updated information.
