Millers expect rice prices to gradually decrease in 2-3 weeks

According to a rice millers organization, rice prices would gradually decrease within the next 2 to 3 weeks.

In a 24 Oras Weekend report by Bernadette Reyes, Nueva Ecija Rice Millers Association President Elizabeth Vana said that the decrease would be due to the incoming new harvest.

“Expect po natin in less than 2 to 3 weeks and so bababa po yan ng P2 to P3, gradual naman po ang pagbaba niyan,” explained Vana.

In data monitored by the Department of Agriculture, the current rice stocks, which was affected by the recent typhoons, was priced at P55 per kilo for regular milled rice and up to P57 for well-milled rice.

“Naapektuhan talaga yung mga quality nila. Ito po yung maaaring naio-offer ng mga kasamahan nating nagtitinda,'' Philippine Rice Industry Stakeholders Movement Member Roderico Sulit said.

While the average price of rice was around P50 per kilo, the Philippine Rice Industry Stakeholders Movement said that a cheaper type of good quality rice worth P38 per kilo may be accessible in specific markets. — Jiselle Casucian/DVM, GMA Integrated News