Philippine Statistics Authority Shows Rice Prices Slightly Increased
The Philippine Statistics Authority said that there will be a slight increase in the prices of rice in different parts of the country.
Nowadays, rice is one of the major and the most consumed foods not only in the Philippines but also in different countries all around the world.
Filipino people are one of the largest consumers of rice globally were directly affected by any changes or movement of its price and quantity.
Recently, the Philippine Statistics Authority conduct a price monitoring and learned that there is a slight increase in the price of rice in Metro Manila and different parts of the country.
Zenaida Cunanan, owner of a rice store said that their supplier has increased the price of rice for about P20 to P30 per sack, which would increase the price of about P0.50 per kilo.
However, Agriculture Secretary Manny Piñol explained that the suppliers have no reason to increase prices because the country has sufficient stocks of rice for the citizens.
In fact, the local production of rice has already increased from 89 percent in 2016 to 95.1 percent this year.
Piñol concluded that the sudden increase in the rice prices was due to the middlemen who control the pricing.
“It’s a flawed marketing system that we have in the country where the farmers don’t have access to the market and they have to go through layers and layers of middlemen who actually control the pricing and that is what we are trying to address right now,” said by Piñol quoted by ABS-CBN.
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