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PIA Press Release
2008/08/13

Rice supply in Butuan over 40% surplus

by Babes D. Tuso

Butuan City (13 August) -- There is no rice shortage here that would justify the rising prices of commercial price in the market.

City Mayor Democrito Plaza II said there are no reasons for commercial rice dealers to increase the price of rice like in other parts of the country.

Speaking in the principle of the law of supply and demand in economics, Plaza pointed out that Butuan City has even 40 percent excess of rice supply and is more than enough to feed the entire population in the 86 barangays.

Plaza however believes that commercial rice dealers may have manipulated the price of rice in the market to make a wider margin of profit as skyrocketing prices of rice in the country has been experienced in the whole country.

The city's chief executive has already conducted monitoring to rice dealers to control the situation.

Meantime, Plaza assured sufficient NFA rice throughout the barangays to neutralize the high prices of rice in the market.

"We have already tapped the NFA to increase rice distribution in all barangays by putting at least two outlets in every barangay," Plaza said in Cebuano. (People's Guardian/PIA-Caraga) [top]

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