Tuesday, April 15, 2008 Davao has enough supply of rice, MBC exec says By Carlo P. Mallo
A RANKING official of the Mindanao Business Council assured that the city has more than enough rice supplies to last for the next two months even as Davao farmers are now preparing for the harvest season this month.
In Monday's Kapehan sa Dabaw at SM Cuty Davao, MBC chair Vicente Lao said the city has rice supplies that can last for the next 66 days, notwithstanding the imported rice and the rice to be harvested this month.
"We have stocks that will last the next 66 days," Lao said.
Lao said there are numerous factors, which affect the increase in the price of rice. One major factor is the increase of oil prices affecting the prices of almost all commodities.
Moreover, Lao said the increase in oil prices is something that the government cannot control. "It is a global phenomenon and it is something beyond our control," Lao said.
After major rice-exporting countries imposed limits on the rice exported out of their country, the price of the staple has been further pumped up in the world trading market. (CPM)
