PSA Benguet conducts Farm Price Survey (FPS)

The Philippine Statistics Authority (PSA) Benguet Provincial Office will conduct the Farm Price Survey this August 2022.

The FPS is a nationwide household-based survey which is conducted monthly by the PSA that aims to generate estimates on farmgate prices of major agricultural commodities, develop sets of price indices and measure the purchasing power of growers of selected agricultural products, and serve as inputs in analyzing the seasonal trends and variations in agricultural prices.

ln particular, farm priccs are vital information not only to farmers and traders but also to government agencies involved in planning agricultural programs. Conceptually, these prices are deemed to represent the average prices received by farmers for the sale of their produce at the first point of sale net of total marketing cost paid by the farmers. These prices are determined at the farmgate or first point of sale transactions and are also known as "Producer Prices". ln order to generate reliable farm price data, the FPS was conceptualized in support of policies and programs for the development of the agriculture sector.

The price information at the farm level also serves as input for the policy makers in the formulation, implementation and administration of economic programs and policies on agriculture. Specifically, the farm prices were used by the government agencies as input for forecasting future supply, demand and prices of agricultural commodities.

On the other hand, the survey results are used in the valuation of gross output in agriculture alongside with data on production (Output: Performance of Agriculture Report) and in the development of indices to measure the welfare of farmers (Output: Producer Price lndex). They are also utilized for updating Cost of Production (COP) studies. Farm prices are used in the computation of price margins and seasonal indices.

FPS is conducted every last 10 days of the month. Results of the survey are scheduled to be released 45 days after each quarter except for the last quarter of the year which would be available 30 days afier the reference quarter. Monthly statistics on the national and subnational farmgate prices can be accessed at http://psa.qov.ph under the database portal Open STAT.

Data items to be collected from the survey are as follows:

• a. Trade of crops by location

• b. Weight and price per local unit of crops

• c. Quantity of crops sold

• d. Total receipts and total freight costs of crops

The FPS was reviewed and cleared for the conduct under the Statistical Survey Review and Clearance System (SSRCS), a mechanism being implemented by the PSA by virtue of Rule 28 of the lmplementing Rules and Regulations (lRR) of the Republic Act (RA) 10625 to:

• a. ensure sound design for data collection;

• b. minimize the burden placed upon respondents;

• c. effect economy in statistical data collection;

• d. eliminate unnecessary duplication of statistical data collection efforts; and

• e. achieve better coordination of government statistical activities.

Under Section 26 of RA 10625, the information gathered from the respondentwill be held strictly confidential and cannot be used for purpose of taxation, investigation or enforcement procedure, nor will be published except in the form of statistical summaries in which no reference to any individual person shall appear.

ln line with this, the PSA Benguet Provincial Statistical Office asks for the cooperation of the barangay officials and the farmer-producers of crops to support and participate in the survey by providing the information needed. Statistical Researchers (SR) will visit the household to conduct personal interview.