Prices of commercial rice still on an uptrend
On the absence of cheap government rice in the market, consumers still carry the burden of rising prices of commercial rice.
According to Philippine Statistics Authority (PSA), the wholesale and retail prices of rice has been on an upward trend for 10 straight weeks now.
On the fourth week of March, wholesale and retail prices of regular-milled rice stood at P37.13 per kilo (/kg) and P39.74 a kilo, respectively.
PSA said these were 7.28 percent and 7.38 percent higher than prices in the same period last year.
The average wholesale price for well-milled rice likewise increased by 5.85 percent to P40.69 a kilo from P38.44 the previous year, while the average retail price for well-milled rice was P43.46 a kilo, 4.85 percent higher from a year ago level.
Right now, there is no NFA rice circulating the market after National Food Authority (NFA) ran out of buffer stocks. The agency expects to have a new supply in May when the much anticipated importation happens.