DA says higher palay prices offer relief amid rising farm costs

<p>The Department of Agriculture (DA) welcomed the year-on-year increase in palay prices in August, saying stronger farmgate returns could provide rice farmers with a buffer against rising fuel, transport, and other input costs.</p><p>In a statement on Saturday, the DA, citing data from the Philippine Statistics Authority, said the national average price of dry palay rose 29.9% year-on-year to P22.16 per kilogram in August from P17.06 a year earlier. However, it was down 1% from P22.39 per kilo in July.</p><p>"Higher palay prices give our rice farmers some room to absorb the increase in fuel, transport, and input costs," Agriculture Secretary Francisco Tiu Laurel Jr.