Commercial rice prices up anew as NFA rice fails to affect market

Prices of commercial rice increased anew as NFA rice failed to make a dent in the market.

In Kamuning Market, almost all varieties of commercial price increased by P1 per kilo. Retailers said that suppliers have increased their prices by as much as P50 per sack, and the increase was passed on to consumers.

“Akala ko pagdating ng NFA bababa ang bigas. Hindi pala. Lalong tumaas,” retailer Marideth Cana said.

NFA Spokesperson Rex Estoperez noted that 197,000 metric tons of the 250,000 MT of NFA rice, imported via government-to-government procurement, are now in the country.

However, poor weather conditions hindered unloading of the rice shipment from cargo vessels docked at the ports.

Estoperez noted market saturation is necessary before NFA rice can impact on prices of commercial rice.

“Dapat na saturate natin ‘yung merkado. Ngayon po, nakikita natin pila-pila. May limitasyon. So definitely hindi tayo makaka-influence ng merkado,” he said.

“Pag naibaba na natin lahat itong sa government-to-government, plus ang pangalawa na private sector naman ang nagsupply, kahit paano po ‘yung ating influence sa market ay mararamdaman po.” —VDS, GMA News