Price drop in commercial rice starts in Metro Manila markets

Price drop in commercial rice starts in Metro Manila markets

File photo

QUEZON CITY, Philippines – The National Food Authority (NFA) is confident that prices of commercial rice will continue to drop in the next two weeks or one month.

NFA Spokesperson Rex Estoperez explained that farmers at this time of the year are expected to harvest their yield which can add to the supply in local markets.

The agency also released more than enough supply of NFA rice to authorized outlets nationwide.

With these measures, consumers may expect a further drop in rice prices towards the end of this month.

However, since the price of NFA rice is way lower than the commercial rice, the agency plans to add more outlets of government rice such as in schools to make the supply more accessible to consumers.

“Kung maraming maraming bigas natin like the importation, magdagdag tayo ng outlets idi-disperse lang natin ang pila,” Estoperez said.

A number of supermarkets were also given the authority to sell NFA rice.

Javier Villena, a rice retailer in Kamuning Market in Quezon City said his supplier has projected a reduction in rice prices by next week.

“Dati P44 lamang. Ngayon may P42, may P43, kaya bumaba na iyan ng mga P100 per bag,” he said.

Rice retailer, John Edward Amar, also believes that rice prices will drop soon.

“Kapag may ani na, bababa na iyan,” he said.

John Edward sells up to 15 bags of NFA rice a day. Retailers like him say NFA rice is more preferred than commercial rice among consumers nowadays.

“Halos pareho na lang po ang lasa. Saka mas nakakatipid po sa budget,” said consumer June Salvador.

On Friday (October 5) the NFA will open the bidding process for the importation of additional 750,000 MT or 15M bags of rice. – Rey Pelayo / Marje Pelayo

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