BOCAUE, Bulacan, Philippines – Prices of commercial rice are expected to go down in the coming days with the start of the harvest season, according to rice traders.
Palay prices started to decline on the second week of this month, traders at the Intercity Industrial Estate in this town, a major rice trading center, told The STAR yesterday.
They said rice from Nueva Ecija, Pampanga, Pangasinan, Nueva Viscaya, Isabela and Cagayan have started arriving at the trading center.
Rice prices have gone down from P24.50 to P19.50 to P21 per kilo depending on the quality and variety.
Palay prices are expected to stabilize at P15 to P16 per kilo for ordinary varieties until November, rice traders added.
They said the price of aromatic palay varieties has decreased from P27 to P24 per kilo.
Rice prices are expected to go down as soon as rice dealers disposed stocks that were procured at higher prices.