Rice prices con­tinue to go down

Manila Bulletin - - Business -

With all the pend­ing rice im­por­ta­tion, the far­m­gate price of palay con­tin­ues to drop dur­ing the last week of Septem­ber, while the cost of well and reg­u­lar milled price were also mostly down. Na­tional Food Au­thor­ity (NFA) spokesper­son An­gel Im­pe­rial said on Fri­day that de­spite the on­slaught of Ty­phoon Om­pong, the stocks to be har­vested in the next few weeks will still fur­ther ease the pres­sure in the price of rice. Dur­ing the last week of Septem­ber, a data from Philip­pine Sta­tis­tics Au­thor­ity (PSA) showed that far­m­gate price of palay con­tin­ues to de­cline by 2.05 per­cent to 122.41 per kilo­gram (/ kg) week-on-week. Com­pared to the av­er­age price in the same pe­riod of the pre­vi­ous year, it rose by 16.54 per­cent. “We are ap­proach­ing the peak har­vest sea­son in two to three weeks. I went around Nueva Ecija last week and farm­ers are al­ready busy har­vest­ing. In Tar­lac, there’s no more stand­ing crops and al­most every­one al­ready har­vested their yield,” Im­pe­rial said. (MBM)

Newspapers in English

Newspapers from Philippines

© PressReader. All rights reserved.