Rice prices continue to soar

  • Page Views 995
  • Delayed distribution of more affordable NFA rice partly causes unabated increase

    Rice prices have continued to increase, due in part to the delayed distribution of imported cheap rice by the National Food Authority.
    According to the Philippine Statistics Authority’s monitoring report on last week prices, regular-milled and well-milled rice are selling at P40.44 and P44.13 a kilo, respectively.
    Compared to the same period last year, both have risen by 7.18 percent and 5.55 percent, respectively, said the PSA report released yesterday.

    This was the 23rd straight week that rice prices have increased, according to the PSA.
    In a phone interview, NFA spokesperson Rex Estoperez said retail prices of rice would likely continue to rise until there is enough cheap rice in the market.

    The elevated prices of rice have contributed to the acceleration of inflation, which hit 4.5 percent year-on-year in April, the fastest pace in more than five years.
    The NFA expects, however, rice prices to go down by at least P1 to P2 a kilo once the imported rice shipments are distributed nationwide.

    Based on the NFA’s original time frame, rice imports should have been distributed across the country by now, in a bid to stem the unabated increase in rice prices.
    The NFA said, however, that its distribution operations had been delayed by bad weather and port congestion issues.

    The subsidized rice is expected to improve the plight of less affluent consumers who have been suffering from rising prices of basic commodities such as rice.
    NFA rice variants are priced at just P27 to P32 a kilo, depending on the quality, and are consumed by some 10 million Filipinos.

    Another 250,000 metric tons (MT) of rice are expected to arrive from Thailand and Vietnam by July and August in preparation for the country’s lean months.
    The period usually runs from July to September when there is hardly any local harvest.

    K. R Ocampo, Inq.net

    Share

    New Posts Recently publish post More

    • 13 May 2021
      2 days ago No comment

      Duterte vs Pacquiao: No fight, say political insiders

      It started on May 3 when Senator Manny Pacquiao, a known ally of President Rodrigo Duterte, said that he finds Duterte’s recent stance lacking on reported Chinese incursions in the West Philippine Sea. “Sa akin, nakukulangan ako, nakukulangan ako kumpara doon sa bago pa siya tumakbo, nage-eleksyon pa lang. ...

    • 07 May 2021
      1 week ago No comment

      Your census.Your community.Your future.

      Census information is used to plan programs and services in your community. Complete your census now!   Related

    • 07 May 2021
      1 week ago No comment

      Applications open tomorrow for new pathway to permanent residency for essential temporary workers and international graduates of a Canadian institution

      Ottawa—Last month, the Honourable Marco E. L. Mendicino, Minister of Immigration, Refugees and Citizenship, announced an innovative pathway to permanent residence for over 90,000 essential workers and international graduates of a Canadian institution who are actively contributing to Canada’s economy. This special public policy will grant permanent status to ...

    • 07 May 2021
      1 week ago No comment

      Canada first country to approve Pfizer vaccine for 12-15-year-old kids

      Canada has become the first country to approve the use of the Pfizer-BioNTech COVID-19 vaccine for children between the ages of 12 and 15. Until Health Canada’s announcement of its approval Wednesday (May 5), the Pfizer vaccine was approved only for people 16 years and older. Health Canada has ...

    • 07 May 2021
      1 week ago No comment

      ABS-CBN marks 1 year shutdown – ‘Andito kami para sa’yo’

      Several Kapamilya stars took to social media to recount the harrowing experience of witnessing ABS-CBN going off air after the government issued a cease and desist order against the network exactly a year ago. On May 5, 2020, ABS-CBN signed off from free television and radio broadcast, a day ...

    %d bloggers like this: