# Farmers wary of further palay price declines as traders reluctant to buy - BusinessWorld Online

> Philippine farmers reported that farmgate palay prices have fallen 23% from their September peak of P22.88 per kg. Traders are reluctant to buy because they hold expensive inventory bought before the government allowed cheaper imports under a 35% tariff.

- Date: 2019-08-08 · published 2019-08-08T12:00:00.000Z
- Category: policy · region Philippines · magnitude low
- Page: https://feedsoft.ai/events/57672-farmers-wary-of-further-palay-price-declines-as-traders-reluctant-to-buy
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Heavy imported supply and stalled local buying point to further downward pressure on Philippine rice prices as the harvest begins.

## Read by commodity

- RICE: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2019-04-22 | [Regulator urges prompt release of P10-B rice fund - BusinessWorld Online](https://feedsoft.ai/events/59669-regulator-urges-prompt-release-of-p10-b-rice-fund-businessworld-online.md) | -2.2% | +6.2% |
| RICE | 2019-11-18 | [Finance dep’t notes ‘disconnect’ between rice farmgate, retail prices - BusinessWorld Online](https://feedsoft.ai/events/56133-finance-dep-t-notes-disconnect-between-rice-farmgate-retail-prices.md) | +2.4% | +6.0% |
| RICE | 2019-09-04 | [Palay prices now lower than that of ‘darak’ \| GMA News Online](https://feedsoft.ai/events/57142-palay-prices-now-lower-than-that-of-darak-gma-news-online.md) | +0.7% | +1.6% |
| RICE | 2017-02-11 | [Uncertainties in Transition: Lifting of rice QR to worsen Filipino farmers’ lot \|  Jasper Y. Arcalas](https://feedsoft.ai/events/72587-uncertainties-in-transition-lifting-of-rice-qr-to-worsen-filipino-farmers-lot.md) | -2.4% | +0.6% |
| RICE | 2024-09-28 | [India lifts ban on exports of white rice with $490/tonne floor price - The HinduBusinessLine](https://feedsoft.ai/events/12950-india-lifts-ban-on-exports-of-white-rice-with-490-tonne-floor-price-the.md) | +0.1% | +0.0% |

## Sources

- bworldonline.com: https://bworldonline.com/editors-picks/2019/08/08/247212/farmers-wary-of-further-palay-price-declines-as-traders-reluctant-to-buy/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.