DA sees rice prices going down to P44 to P46 a kilo

February 22 ------ The price of well-milled rice is expected to go down to P44 to P46 a kilo in the coming weeks following the decrease of rice prices in the international market, an official of the Department of Agriculture said.

The Samahang Industriya sa Agrikultura (SINAG) also observed the price drop abroad, saying the price per metric ton of the Filipinos' staple food went down from $612 to $580. "Hopefully, patuloy na bumaba yung presyo sa international market and it will have an impact doon sa parating na imported rice," De Mesa said. "Babalik 'yan sa range na P44 hanggang P46 na presyo ng well-milled rice," he added.

SINAG chairman Rosendo So has a higher estimate as regards the price of rice in the coming weeks."'Yung local harvest natin ng palay na dati ang presyo nasa P26 ngayon bumaba ng P24. Equivalent nu'n is more or less nasa P47 to P48 na bigas," So said.

Source: gmanetwork.com