Rice prices continue to soar

  • Page Views 584
  • 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

    • 22 March 2019
      4 days ago No comment

      Angel still queen as ‘General’s Daughter’ of primetime; As ‘Kadenang Ginto’ smashes own record thrice in one week

      “The General’s Daughter” remained the far-and-away No. 1 program in its time slot despite a new rival, cementing the status of lead star Angel Locsin as the current queen of primetime. The Dreamscape production scored a nationwide rating of 34% on March 18. That’s more than double the viewership ...

    • 22 March 2019
      4 days ago No comment

      Greta (PG)

      Ordeal! Loss of a parent can hit children hard. A young woman coming to terms with the loss of her mom gets quite the awakening In Greta. Smart studios typically release horror films or suspense laden thrillers towards the fall. In a brilliant bit of counter programming Universal Studios ...

    • 22 March 2019
      4 days ago No comment

      Budget 2019: Investing in the Middle Class to Grow Canada’s Economy

      Kagawaran ng Pananalapi ng Canada Noong 2015, ang mga masisipag na Canadians ay nagpatunay na pag gusto nating lumakas ang ekonomiya, ang unang dapat gawin ay palakasin natin ang middle class. Ang mga kababayan natin ay pinili ang gobyerno na ito upang bigyang-puhunan ang mga middle class at sa ...

    • 22 March 2019
      4 days ago No comment

      FOX makes first Filipino film

      FOX Networks Group (FNG) Philippines produces its very first film, the horror-thriller Maledicto, which rolls into cinemas nationwide on May 1 Philippines — FOX, home to hit series and Hollywood movies, makes its first foray into the Filipino movie-making industry. FOX Networks Group (FNG) Philippines produces its very first ...

    • 22 March 2019
      4 days ago No comment

      Movie Review: ‘One Great Love’

      It is more than possible to realize that the love of your life has been there all along. Perhaps the one you have been looking for to complete you has been around for so long and much closer to you than you had thought. “One Great Love” from Regal ...

    %d bloggers like this: