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BACOLOD CITY, Philippines — The National Food Authority (NFA) will double the supply of rice released in Negros Occidental next week to stabilize and slightly drive down the price of commercial rice in the market.
NFA provincial head Marianito Bejemino said that from a weekly release of 60,000 bags or 3,000 metric tons of rice, the NFA would release 130,000 bags or 6,650 metric tons a week starting on Monday.
He added that a projected harvest of about 25 metric tons from rice farms in Negros Occidental from June to August was expected to ease supply problem in the province.
The harvest represented about one million 50-kilo bags of palay worth at least P1.5 billion, provincial agriculturist Igmedio Tabianan said.
Both Bejemino and Tabianan said that while it would be difficult for prices to drop too much because of the rise in production inputs, they expected the price of regular and well-milled rice not to exceed P35.
Reports on the rice situation in Negros Occidental were made at a meeting attended by representatives of various government agencies and rice retailers and presided over by Governor Isidro Zayco at the Capitol Friday to discuss ways to keep down prices of rice and other basic commodities.
NFA rice sells at P18.25 a kilo. Commercial regular milled rice is selling at P29 to 34 a kilo, well-milled rice at P34 to 36 and premium rice at P40, according to Bejemino.
Zayco is also set to issue a directive to city and town mayors of Negros Occidental to activate their price monitoring councils to prevent hoarding and price manipulation.
Zayco said the local governments would be asked to coordinate their local price monitoring work with the Department of Trade and Industry (DTI) provincial office in Bacolod City.
DTI representative Max Ravena said charges of profiteering or hoarding could be filed against violators caught by the price monitoring councils.
Zayco has set another meeting on the price situation in Negros Occidental on July 1. /Inquirer
