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Key Agri Commodity Prices Dip in Early July in Philippines
Prices for several key food commodities in the Philippines, including rice, pork shoulder, and calamansi, saw a month-on-month decrease in early July, according to the Philippine Statistics Authority. However, prices for tomatoes and round scad continued to rise.
The Philippine Statistics Authority (PSA) reported that prices of several key food commodities, including rice, pork shoulder, and calamansi, declined month-on-month during the first phase of July (July 1-5). Fresh pork shoulder (kasim) prices fell by 0.8% month-on-month to P339.43 per kilogram. Year-on-year, prices were down 9.5%. Regular-milled rice prices dropped by 0.7% month-on-month to P49.30 per kilogram. However, they registered the largest year-on-year increase among all commodities, up 18.6%. Refined sugar prices decreased by 0.4% month-on-month to P82.53 per kilogram, while rising 2.7% year-on-year. Calamansi prices declined by 2.4% month-on-month to P100.73 per kilogram, showing a 9.1% increase year-on-year. In contrast, tomato prices rose by 14.9% month-on-month to P97.05 per kilogram and were up 23.9% from a year earlier. Round scad (galunggong) prices also increased by 3.7% month-on-month to P237.69 per kilogram, marking a 10% rise year-on-year. Hawaiian ginger prices were up 1.3% month-on-month at P161.53 per kilogram, but fell 12.7% year-on-year. These price movements are crucial indicators for understanding inflation trends and their impact on household budgets in the Philippines. The annual price increase for rice, in particular, warrants close attention as a staple food directly affecting the public.
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