NFA: Rice prices up by P1 to P2 per kilo

A P1 TO P2 per kilo increase in the prices of rice in different major and small retailers in different public markets and supermarkets in Metro Cebu has been observed by the National Food Authority in Central Visayas (NFA-7).

Olma Bayno, NFA-7 information officer, said that based on their price monitoring in several markets in Cebu City, Mandaue City and Lapu-Lapu City, prices of some rice brands have been observed to have increased by P1 to P2 per kilo.

Bayno said that this was due to the high prices of the supply of rice coming from Luzon.

She cited the irrigation dam destroyed by typhoons in Isabela, one of the rice growing provinces in the country, as having affected by the rice farms and their produce there.

“The main harvest as well that started in September is almost over and lean months, or the period when there is very low or no harvest is looming, and it’s normal that prices will slightly increase,” Bayno said.

She also said that the supply from local rice traders had started to be depleted and they were still waiting for new imported stocks that were expected to arrive this month.

Bayno said that this supply was purchased by private sector last February via minimum access volume (MAV) quota at around 800,000 metric tons.

Although Bayno clarified that the rice supply in the country is still stable. The country’s rice stocks, at 1.944 million metric tons, would last for 61 days based on the average national daily requirement of 31,462 MT.

She also assured that the NFA continues to sell low priced NFA rice at P27 and P32 per kilo through accredited retailers to give consumers an option to buy good quality but lower priced rice.