CURRENT PRICE OF PALAY
Producing palay costs roughly P12 per kilo in the Philippines, yet some farmers claim they are compelled to sell their produce at P7 merely to compete with imported rice.
Farmers have urged Congress to set a floor price for palay since farmgate prices have fallen substantially below production costs. Farmers' associations claim that farmgate palay prices can be as low as P7 per kilo, significantly less than the P12 it costs to produce.
Montemayor blamed the drop in palay prices on a number of issues, including the unavailability of mechanical dryers during the rainy season and the NFA's lack of price support. He also attributed the drop in palay prices on the continued importation of rice.
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