Rice prices expected to go down with summer harvest

MANILA, Philippines - Authorities expect prices of rice to go down in the coming weeks as newly-harvested palay from Central and Northern Luzon start to come in, QTV reported Thursday. QTV's Balitanghali quoted National Food Authority as saying the price of palay has started to normalize with the influx of fresh supplies following the summer harvest. "Nagiging normal na yung sitwasyon natin. Naiintindihan na ng mga kababayan natin na they don't have to speculate, we have enough supply for them (Our situation is already normalizing. The public now understand that they don't need to speculate, we have enough supply for them)," said Thomas Escarez, NFA spokesman. In Bulacan, palay now cost P14-P15 per kilo from last week's P20 a kilo. The stocks came from the provinces of Cagayan, Tarlac, Nueva Ecija and Isabela. Renato Cruz, a palay trader, said with lower palay prices, rice prices are also seen to go down. "Bigas bababa. Sa palengke kasi P1,300 na lang (ang sako ng bigas). Lumalagay sa puhunan na P26 per kilo ang bigas (Rice prices will go down. In markets, rice sells at P1,300 per sack or P26 per kilo)," he said. For her part, Linda Sacdalan, president of Plaridel Guiguinto Irrigators Association, said: "Sabi ng mga traders, puno na raw sila ng stocks kaya wala silang magagawa kundi ibaba ang presyo ng bilihan ng palay (Traders are saying that their stocks are full so there's no reason not to lower prices)." Despite this, Escarez assured farmers that the government will continue buying their palay at P17 per kilo until the end of the year. "Walang dapat ikatakot yung ating mga farmers kasi ang NFA is ready to buy their produce (Our farmers have nothing to fear because NFA is ready to buy their produce)," Escarez said. As this developed, the local government in Cebu began endorsing their local rice dish, saksak, as a way to cope with the rising price of the staple food. The television report quoted Cebu Governor Gwendolyn Garcia as saying more and more of his fellow Cebuanos are dining on saksak which is rice mixed with sweet potato. The governor said rice becomes more nutritious when mixed with sweet potato. Even President Gloria Macapagal Arroyo ate saksak during her recent visit to the province, Garcia noted. - Amita Legaspi, GMANews.TV