Rice prices would gradually decrease within the next two to three weeks, according to a rice millers organization.
The decrease would be due to the incoming new harvest, said Nueva Ecija Rice Millers Association president Elizabeth Vana in a “24 Oras Weekend” report by Bernadette Reyes.
“Expect po natin in less than two to three weeks and so bababa po ‘yan ng P2 to P3, gradual naman po ang pagbaba niyan,” explained Vana.
Earlier, Communications secretary Cheloy Garafil said the initial harvest of palay will commence in Isabela, Nueva Ecija and North Cotabato provinces by last week of August until September.
Citing the report from Agriculture Undersecretary for Rice Industry Development Leocadio Sebastian, Garafil said the palay harvest output is estimated at 900,000 metric tons.
In data monitored by the Department of Agriculture, the current rice stocks, which was affected by the recent typhoons, was priced at P55 per kilo for regular milled rice and up to P57 for well-milled rice.
“Naapektuhan talaga ‘yung mga quality nila. Ito po ‘yung maaaring naio-offer ng mga kasamahan nating nagtitinda,” Philippine Rice Industry Stakeholders Movement member Roderico Sulit said.
While the average price of rice was around P50 per kilo, the Philippine Rice Industry Stakeholders Movement said that a cheaper type of good quality rice worth P38 per kilo may be accessible in specific markets. (GMA Integrated News)
