Increase of Price in Rice, expected to continue until December
By Rovie Gonzales
The increase of price in rice is felt as the holiday comes; the demand and supply chain of rice in the Philippines becomes complicated.
Holiday is almost here and the demand for rice continues to surge as Filipinos always include rice in their holiday meals.
Rice retailers maintained the price range of 56 pesos to 65 pesos due to the increase of price from farms and expected to increase for the holiday season.
According to Cathy Estavillo of Bantay Bigas, the organization was also appalled with how the price range of rice increased. It was far from what they had expected from the Department of Agriculture which indicated that regular-milled rice was supposed to be only 48 pesos per kilo.
However, in some provinces, there is an evident price drop of rice that starts from 20 pesos per kilo.
The Department of Agriculture assured that the supply of rice in the Philippines is stable and can accommodate up until next year’s demand. The buffer stock of rice in the country could last for 90 days.
The proposed price of rice per kilo by the government is not met due to import and supply issues, hence, the continuous increase of price until the end of the year.