Rice up by P2 per kilo during harvest season
UNUSUAL PRICE MOVEMENT
PRICES of regular and well-milled rice have increased by P2 contrary to what was expected this period being the harvest season.
Monitoring of prices last week showed the price of regular-milled rice at Malimgas Public Market, an increase since April 22.
Normally, the price of rice drops during harvest season, so the latest development baffled many buyers.
Even rice retailers could not understand the upward price at this time.
Price monitoring in Malimgas Public Market, supplemented by DA monitoring from other public markets in the province reveal that local regular rice now cost P48 to P52; local well-milled rice sells for P48 to P55 per kilo; local premium rice for P51 to P58 per kilo; while local special rice sells for P57 to 67 per kilo.
Imported regular to well-milled rice sells from P48 to P58 per kilo; while imported premium rice is at P50 to P62; as imported special rice sells for P56 to P64 per kilo.
In an interview over national radio, Department of Agriculture spokesman Arnel de Mesa said an in-depth investigation is being conducted on this unexpected situation particularly because it was already reported that the province has more than 100-percent rice sufficiency in the province and with confirmation that El Niño damages were minimal.
Authorities are closely watching movement in weeks ahead. (Ahikam Pasion)
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