Imports to ease prices of rice
CEBU, Philippines — Rice prices could stabilize further once rice imports arrive at the market, a trader said.
Cebu Market Vendors Cooperative president Erwin Goc-ong said allowing more imports to enter the market could help stabilize prices.
For instance, he said he imports about 60% of the rice products that he sells at the Carbon Public Market in Cebu City.
The remaining 40% are sourced locally.
Goc-ong said most traders remain dependent on rice imports because of limited domestic production.
Most commercial rice products sold in the market ranges from P50 to as high as P60 per kilo.
He said these prices could further dip once more supply penetrates the market.
The Department of Agriculture had said it expected rice prices to go down by November as more imports arrive.
Agriculture Secretary Manny Piñol also earlier said the harvest season for palay has also begun, which is seen to elevate rice output.
The public will soon be able to determine imported and local rice variants.
This after the DA orders that rice labels should be limited to four, namely: regular milled (P38/kg), well milled (P40-42/kg), special rice and premium rice (P44/kg).
The government eased import restrictions to rice after the staple's price has soared in recent weeks.
The easier rice importation is in line with President Duterte’s order to government agencies to ensure there is over or enough supply of rice in the country.
- Latest
