BONTOC, Mt. Province — The prices of commercial rice in the market here have started to go down as measures to stabilize the price of the staple are put in place.
National Food Authority (NFA) Provincial Manager Celedonio Mendoza said last week’s price monitoring showed that the prices of regular milled rice and well milled rice ranged between R30 and R34 a kilo; commercial rice between R35 and R40; and premium and fancy rice ranged between R40 and R48.
This week’s price monitoring showed that the price of regular milled rice and well milled rice is pegged at R30-R32 a kilo; commercial rice, R35-R36; and premium and fancy rice, between R37 and R38.
Mendoza said that the NFA flooded the market withThailand and US rice sold at prices of R25 and R35 a kilo, respectively.
This caused the prices of commercial rice to go down, he said.
Mendoza said that some 40,000 bags of US rice were unloaded at the central Bontoc market and distributed to the Institutionalized Bigasan ni Gloria sa Palengke (IBGP) outlets and private rice retailers.
