Special rice retail prices shoot up to P70/kilo

Special rice retail prices shoot up to P70/kilo

MANILA, Philippines — Retail prices of special rice have reached as high as P70 per kilo amid the continued spike in the cost of the staple.

Based on monitoring of the Department of Agriculture, the retail price of local special rice increased by P2 per kilo from P68 per kilo.

The retail price of local premium rice reached as high as P67 per kilo, local well-milled at P57 and local regular rice P53 per kilo.

Federation of Free Farmers national manager Raul Montemayor said that the farmgate price of palay in Tarlac reached as high as P30 per kilo.

“I was in Tarlac yesterday and was told that early harvesters were getting the equivalent of P30 per kilo for dried palay, up from around P25 (per kilo) from October to November last year. Traders must be having a reading of the supply situation that is different from that of the DA, which is saying that we have ample supply,” Montemayor told The STAR.

Watchdog Bantay Bigas spokesperson Cathy Estavillo warned of an increase in hunger as the price of the grain continues to go up.

Retailers confirmed that there was a drop in the volume of rice that consumers buy, Estavillo said.

At a press conference, DA Assistant Secretary and spokesman Arnel de Mesa refused to comment on the possible increase in hunger, saying it is the National Economic and Development Authority that can answer the question.

De Mesa said the country has at least a 100-day supply  of rice, and the only concern is the retail cost as the price in the international market continues to go up.