Rice prices to remain high

CEBU, Philippines - While some retailers have already slashed a few pesos from the current rice prices, others on other hand said the price cut from wholesalers is so minimal that they can’t adjust their prices just yet.

Rice retailer Merlinda M. Patindol, 50, is still selling Ganador rice at P54 per kilo, Lion Ivory at P50 per kilo, Palawan and Champion at P46 per kilo, and Sinandomeng at P42 per kilo, among other rice varieties.

Patindol said the prices of rice wholesalers have only dropped by P10 – P30, which she said is very minimal for her to consider slashing retail prices.

"Ang problema sa mga wholesalers basta pagsaka na gani sa presyo taas kaayo pero kung pag-us-os na sa presyo gamay ra kaayo," she complained.

However, 57-year-old Norma Tecson, another Carbon rice retailer, have lowered rice prices by at least P1 to P2. Tecson's Ganador now sells at P52, Champion is at P45, Lion Ivory is sold at P48 and Palawan stands at P45 per kilo.

In a local supermarket in Cebu, Ganador sells at P55.50, Lion Ivory is at P51.50 and Champion is sold at P48.50 per kilo.

In an interview, Lucy Rosales of the National Food Authority Central Visayas regional office said the recent decrease in rice prices is a positive indication of price normalization in the market especially now that harvest season is now imminent.

"Let's say nga nakatabang pud katong pag-increase sa distribution o allocation sa NFA rice sa atong markets," said Rosales, NFA information officer.

Importation

Rosales revealed the NFA is expecting another 45 vessels of imported rice until the end of this year. Since January of this year, there had been rice imports that entered the country. The NFA has ample supply of rice but some of the products have not been supplied to the markets because of its implementation of buffer stocking.

The NFA official explained they have to apply the buffer stock scheme to prepare for any eventuality of emergency situations that normally put food security in critical state. The scheme is the government's way to use product storage to steady prices in volatile markets.

"With the onset of harvest season sa mid week of September, we hope nga mas mu-us-os pa ang presyo sa commercial rice," she further stated. "Hopefully, way calamities lang nga muabot."

Meanwhile, the national DA is now proposing to have suggested retail prices for agricultural products to control undue price increases in the market, Avila shared. But it is also considering the transportation costs which affect product prices.

“We don’t have SRP on raw, fresh agri products including rice. Manila is discussing it, but no concrete solutions yet,” he said, noting that price variation of these goods is high. (FREEMAN)