Tuesday, June 17, 2008 NFA shouldn't set limits for rice supply: bizman
A LOCAL businessman has called on the National Food Authority (NFA) and the rice traders in Davao City to simply release the supply of rice to satiate the demand of the market for the food staple and eventually bring its price back to normal.
Tony dela Cruz of the Davao City Chamber of Commerce and Industries Inc. told reporters Monday that if the rice supply is actually there as both NFA and traders claim, then they should simply provide the demand of the market.
He added that if the people can actually feel stable with the supply of rice in the region, then the price of the food staple will settle back.
As of Monday, the price of rice has slumped by as much as P5 in some markets from its all-time high price of P50 per kilo.
Both the NFA and the rice traders have been one in saying that there is no problem with the supply of rice except for the high price of the commodity.
The price of rice in Davao City and its neighboring provinces has been very volatile in the past few months due to the speculation of some sectors that it will eventually reach a high of P60 per kilo from P34 per kilo in early April.
The authorities doubt that hoarding of the food staple may be the cause behind the sharp increase in the cost of rice. (CPM)
