Retail prices of rice are expected to rise in the next few weeks due to high palay farmgate prices amid the dry season, higher cost of inputs, and low buffer stock, DA Assistant Secretary and deputy spokesperson Rex Estoperez said.
“Our projection is an increase of P5 [per kilo]… that’s the maximum,” DA Assistant Secretary and deputy spokesperson Rex Estoperez told reporters in a recent interview.“During the Summer harvest season, prices are normally high because the palay is already dry… Plus, the cost of inputs are also increasing,” Estoperez said.
Another factor in the expected increase in the prices of the staple is the lower inventory which is only good for 51 days, a far cry from the comfortable level of 90 days.
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