Rice growing costs in the Philippines hit a 7-year high

The average cost of growing rice in the Philippines rose to a 7-year high of P12 per kilogram in 2021 due to expensive fertilizers and rising per capita wages. The latest data from the Philippine Statistics Authority (PSA) showed that the average cost of production for rice cultivation rose by 4.52 percent to P12.02 per kilogram in 2021 from P11.50 due to higher spending on fertilizers and hired labor. the PSA data showed that the average cost of rice cultivation reached a record high of P49,920 per hectare last year, up from P47. 027 in 2020, This is 6.15% higher than the 2020 cost of 47,027 pesos.

Source: Boeing Guru

Post time: Nov-09-2022