Palay prices decline as harvest season startsMALOLOS, Bulacan, Philippines — Palay prices have declined by an average of at least P1 per kilo as farmers who planted early for the dry cropping season started harvesting their crops. The current palay prices are still above the National Food Authority (NFA)’s buying price of palay, which is at P23 per kilo. NFA administrator Larry Lacson confirmed that palay prices imposed by private traders are higher than the agency’s procurement price. As palay harvest for the dry season peaks, the NFA is expecting prices to settle between P21 and P23 per kilo, which is beneficial to farmers and consumers, Lacson said. NFA-Bulacan manager Rhona Talens said that based on their monitoring, palay prices at the two trading centers have slightly gone down.
