Despite having enough rice supply, retail prices of the country’s staple food in Metro Manila have jacked up by about P2 per kilogram as farmers face increased production costs. | jordeenelagare /PDI
In the Philippines, the rule of thumb is that the commercial price of rice is double the farm-gate price.
As of Friday, locally produced rice is sold from P34 to P60 per kg, compared to P38 to P50 per kg a year ago, based on the Department of Agriculture’s price monitoring. “We have talked to farmers in Nueva Ecija and Tarlac and they said because of using a different type of fertilizer, they have reduced their price of palay. Now, they are our partners in selling rice in Kadiwa outlets for P25 without any subsidy,” she said.“However, we see the need to monitor them because if our farmers are able to sell their palay for P12 without incurring a loss even if they are using other types of fertilizer, the retailers should feel that ,” she added.
The DA earlier said the domestic stockpile should be 37,000 MT a day or 3.33 million MT good for three months.
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