Region-7 included in NFA selective bombardment to stabilize rice prices
Prices of rice in
NFA Enforcement and Investigation Division head Edgar Diez said that Region VII is among the regions identified for the implementation of the selective bombardment strategy wherein markets will be flooded with rice in the hope of stabilizing the prices.
Diez said there is already a proposed plan to increase the rice allocations in all the Bigasan ni Gloria sa Palengke and Tindahan Natin outlets which are given 50 bags to dispose every week.
The original BGP and TN allocation was 20 bags weekly. The BGPs in the markets are selling the P25-a-kilo
The P35-a-kilo better
With the influx of NFA rice in the market, he said, the modal pricing showed that well milled rice – commercial is now priced at P36 to P37, compared with last week’s prices of P40 to P45. The millers, in a meeting with Department of Agriculture officials, also assured milling regular milled rice which is cheaper than well milled rice.
NFA administrator Jesus Navarro also made the same pronouncement at the national level that the flooding of more rice to markets will be immediately implemented in order to pull down the prices of the staple to benefit low income consumers.
Navarro added that since they’ve implemented the selective bombardment strategy as ordered by President Gloria Arroyo, rice prices in Metro Manila have stabilized while those in other regions already went down by P2 per kilo since last week.
DA Secretary Arthur Yap for his part said the price drop is significant because it is happening when retail prices are supposed to be on the upswing during the traditional three-month lean months.
“With the adequate stocks of rice in the NFA warehouses, the government is ready and able to continue flooding the market with state-subsidized stocks to further bring down the retail prices of rice,” he added. — Ferliza C. Contratista/MEEV
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