MANILA — The average cost of producing palay in the Philippines reached ₱14.52 per kilogram in 2024, according to the latest data based on the 2022 benchmark from the Survey on Costs and Returns of Palay Production.

Among the regions, Central Visayas recorded the highest average cost at ₱19.73 per kilogram, while the lowest production cost was observed in Eastern Visayas at ₱12.59 per kilogram.

On a per-hectare basis, the nationwide average cost of production was ₱59,695. Cagayan Valley had the highest average at ₱78,245 per hectare, while Eastern Visayas posted the lowest again at ₱45,557 per hectare.

Despite varying costs, net returns from palay production in 2024 averaged ₱36,211 per hectare. Central Luzon led all regions with the highest net returns at ₱58,932 per hectare, followed by the Ilocos Region with ₱53,407 per hectare.