PRICE of commercial rice are expected to go down by early October as rice supplies and rice harvests will be bountiful in the next month.
“Mubaba ang price mga first week siguro by October kay ting harvest naman pud na nga panahona pero dili jud kaayo ingun-na ka baba pareho sa NFA (National Food Authority) rice (The price will probably go down by first week of October since it’s harvest time for rice, but the price will not be as low as NFA rice),” Joan Micarun said on Monday, September 24, at Bankerohan Public Market, Davao City.
Micarun added if the price will go down by October, Dabawenyos can expect two-peso to three-peso decrease from the current price.
Presently the prices of the rice range from P43 per kilogram (kg) to P55/kg depending on the variety. Seven Tonner is at P43/kg, Angelica at P44/kg, V-160 at P46/kg, Milagrosa at P47/kg, V-160(King) at P49/kg, Jasmine at P50/kg, V-160(Joker) at P54/kg.
Micarun added the supplies of rice come from Bansalan, Davao del Sur; Compostela Valley; Banaybanay, Davao Oriental; Tagum City; Tuganay, Carmen, Davao del Norte; and Digos City
Meanwhile, NFA rice still prices at P32/kg at registered NFA retailers.
Based from the rice calendar of the International Rice Research Institute (IRRI) Davao Region including the high plains of Bukidnon are expected to have their rice harvested by October as part of the first peak season of harvesting rice.
Meanwhile, data from the Philippine Statistics Authority (PSA) showed rice harvests in Davao Region tend to increase by the third quarter of the year. For instance, total rice production in the region went up to 132,795 metric tons in the third quarter of 2017 from 64,639 MT in the second quarter of the same year.