Analysis of the Impact of the Changes in the Prices of Rice and Fuel on Poverty in the Philippines

• Main Authors: Reyes, Celia M., Sobreviñas, Alellie B., Bancolita, Joel, De Jesus, Jeremy
• Format: text
• Published: Animo Repository 2008
• Subjects: Rice and Fuel Prices; Philippines; poverty; growth; Agricultural and Resource Economics; Agricultural Economics
• Online Access: https://animorepository.dlsu.edu.ph/res_aki/165; https://animorepository.dlsu.edu.ph/context/res_aki/article/1165/viewcontent/ANALYSIS_OF_THE_IMPACT_OF_THE_CHANGEs_IN_THE_PRICES_OF_RICE_AND_FUEL_ON_POVERTY_IN_THE_PHILIPPINES.pdf
• Institution: De La Salle University

In 2008, prices of rice and fuel in the Philippines have dramatically increased following the trends in the global market. Although the movements in the farmgate (producer) and retail (consumer) prices of rice is fairly stable during the period January 2006 to December 2007, prices significantly increased starting January 2008 (Figure 1). The average retail prices of rice for the period January to September 2008, in fact, increased by 34.3 percent as compared to 3.7 percent growth in the previous year. Meanwhile, farmgate prices increased by 26.7 percent in January to September 2008 as compared to the previous year’s growth of only 4.5 percent. During the period, price of rice was at its highest in June 2008 with farmgate and retail prices of ordinary rice at P27.98 per kilogram and P35.78 per kilogram, respectively