NFA-7 monitors slight increase in rice prices

CEBU, Philippines - The National Food Authority-7 has monitored a slight increase in the prices of some rice variety in Central Visayas.

NFA-7 assistant director Nestor Rey Alcoseba, however, said the increase is very negligible and does not cause for alarm because there is plenty of supply in the market.

“Di man significant ang increase, not cause for alarm. Besides, we have plenty of rice supply in the market. Unya padung na sad ta sa harvest season,” said Alcoseba.

Alcoseba said the price movement ranges from P0.25 to P0.50 per kilo.

“Makita nato based on our weekly monitoring nga di tanang rice variety naay pagsaka sa presyo. We have so many variety of rice that our consumers can choose from nga wa ni-increase ang presyo,” said Alcoseba.

He said the increase in the prices vary depending on where the supply came from. Alcoseba explained that the slight increase could be attributed to handling and transportation cost.

Alcoseba said that as of October 26, the NFA rice inventory for Region VII is 1.2 million bags, 1.1 million of which are for Cebu. He said the rice inventory is good for 37 days.

He added that the NFA only provides at least 20 percent of the market share as majority of the rice sold in the market is commercial rice. — (FREEMAN)