PSA issues March price situationer




The Manila Times

Business Times

THE Philippine Statistics Authority on Friday released a price situationer for selected agricultural commodities covering the first five days of March. Price increases were seen in seven trading centers with regard to the retail prices of well-milled rice, ranging from P0.11 to P2.50 and relatively higher than the price levels during February 15 to 17. The average retail prices of wellmilled rice per kilogram decreased by P0.22 in Batangas City and P0.23 in Kidapawan City. For retail prices of pork kasim, five trading centers also posted hikes by P0.83 to P10. However, retail prices per kilogram in some provinces lowered P5 in Cebu City, by P10 in Cabanatuan City and by P15 in Tuguegarao City. Retail prices per kilogram of bangus (milk fish) varied in 12 trading centers. Price changes vary from increases of P1.20 to P40 and decreases of P2.50 to P45. Meanwhile, many trading centers saw the decline in retail prices of vegetables during the first phase of March 2023. Retail prices per kilogram of red onion plummeted between P12 and P248.50 in 15 trading centers during the period. However, an increase to prices in red onion by P85 was observed in Cabanatuan City. Prices of banana (lakatan) per kilogram varied. It climbed by P1.73 to P12.50 in six trading centers while it dropped by P2.50 in both Tuguegarao City and Calapan City, by P4 in Iloilo City, by P10 in Cebu City and by P20 in San Fernando City. Decreases in the average prices per kilogram of brown sugar were reported by six trading centers ranging from P1 to P4.62, while average retail prices per kilogram grew by P0.28 in the National Capital Region, P2 in Tuguegarao City and by P4.50 in Cabanatuan City during the first phase of March. Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said that the prices of agricultural products have declined after the seasonal increase in demand during the latter part of 2022. “Upon crossing the new year, better weather conditions into the summer season after the storm damage on agriculture during the latter part of 2022 up to around January 2023, targeted importation of sugar or onions as well as the one-year extension of lowered import tariffs on rice, corn, meat, coal as part of the nonmonetary measures,” the chief economist said.