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PIA Press Release
2010/01/30

Rice prices stable, says NFA

By Rhisan Mae E. Morales

Davao City (30 January) -- "We did not experience abrupt exchange of prices last year 2009" Felimon Cangrejo, assistant manager National Food Authority-Davao said during the forum held in Eagle's Bar at Marco Polo last January 20, 2010.

Price increase in rice was felt last year but the increase only cost 50 centavos. Although the agency already anticipated price increase later this January due to climate change. Cangrejo further mentioned that the inventory requirement of products were enough for the whole Davao region.

Cangrjo announced that there will be a foreign vessel that will carry imported socks of rice for the country. According to him this year Davao City will have a share of 3.5 M bags of rice unlike last year which was only 2.1 M bags of rice. However this does not mean that our local farmers will not gain profit. The National Food Authority will buy rice with 15% moisture at 17 pesos per kilogram with an additional 70 cents as an incentive. (PIA XI) [top]

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