Rice prices continue to soar

  • Page Views 956
  • 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

    • Nathan Longchallon
      18 September 2020
      3 days ago No comment

      Missing Man in Burnaby: Nathan Longchallon, 26

      The Burnaby RCMP is requesting the public’s assistance in locating 26-year-old Nathan Longchallon. Nathan was last seen walking north bound on Patterson Avenue near Victory Street in Burnaby at 3:30 p.m. on Tuesday, September 8, 2020. Nathan is described as 5 feet 8 inches tall, with a slender build, ...

    • 17 September 2020
      4 days ago No comment

      B.C. election looms, while chance of federal election lessens

      B.C.’s next provincial election is scheduled to happen on October 16, 2021. But it could take place earlier if the B.C. NDP government of Premier John Horgan decides to call an election earlier. Or if the Horgan government loses the confidence of the legislative assembly. By many indications, Horgan ...

    • 17 September 2020
      4 days ago No comment

      Dr. Theresa Tam’s update on COVID-19 

      Ottawa, ON – Public Health Agency of Canada In lieu of an in-person update to the media, Dr. Theresa Tam, Canada’s Chief Public Health Officer, issued the following statement: “There have been 138,803 cases of COVID-19 in Canada, including 9,188 deaths. 88% of people have now recovered. Labs across ...

    • 17 September 2020
      4 days ago No comment

      Prime Minister announces next steps for Safe Restart Agreement

      As we move into the fall and the world continues to deal with the impacts of COVID-19, the Government of Canada remains focused on keeping Canadians safe and healthy, while continuing to ensure they have the supports needed during this global health and economic crisis. The Prime Minister, Justin ...

    • 17 September 2020
      4 days ago No comment

      Amal Clooney urges PH to protect press freedom, honor international commitments

      International human rights lawyer Amal Alamuddin-Clooney on Tuesday urged the Philippine government to protect the free press and honor its international commitments on human rights. Speaking before Philippine business leaders in an online forum, Clooney said, “if you want to have a functioning democracy, protect the press. To protect ...

    %d bloggers like this: