DTI undersecretary Zeny Maglaya. INQUIRER FILE PHOTO
MANILA, Philippines — The Department of Trade and Industry has asked the Department of Agriculture to investigate the reported P1 to P2 hike in the prices of rice being sold in Metro Manila and the possible triggers of this increase.
“We’re asking the DA to already validate [reports] because we have been receiving calls of an increase in the price. I don’t know if this is triggered by the onset of the lean months,” said Trade Undersecretary Zenaida C. Maglaya.
“It has been years since the price of commercial rice moved, that’s why we have to check if this is an isolated case or whether it’s happening nationwide. It will have to be validated by the Bureau of Agricultural Statistics,” Maglaya added.
Based on a report from BAS, the price of regular milled rice ranged from P32 to P34 a kilo as of July 9, up from the P30-per-kilo price recorded since 2012.
Other products that registered price increases included: carabao mango (P80 per kilo as of July 9, from P70 a week ago); native pechay (P50 from P40); and eggplant (P50 from P40).
Prices of other basic commodities either remained stable or slightly went down, Maglaya said.
Refined sugar, she noted, remained stable at a range of P42 to P45 a kilo, while the price of a 180-kg Bear Brand powder-filled milk fell by P1.50 to P45. The reduction in the price of milk, she explained, was due mainly to a marketing strategy by its firm, Nestle. This price is expected to be implemented until September this year, according to Maglaya.
Price drops were also noted for alumahan (P120 from P140 a kilo); carrots (P50 from P60 a kilo); habitchuelas (P40 from P50 a kilo); and tomatoes (P70 from P80 a kilo).
In the meantime, the National Price Coordinating Council (NPCC) is expected to meet next week to assess the price and supply situation of basic commodities like rice and sugar as the country enters the so-called lean season (third quarter).
BAS data showed that that the country’s rice stocks stood at 68 days worth as of June 1, equivalent to about 2.3 million metric tons.