source: pna.gov.ph
The provincial government of South Cotabato has convened the province’s Local Price Coordinating Council (LPCC) to properly monitor and regulate the prices of commercial rice in the local markets.
Reynaldo Legaste, South Cotabato provincial agriculturist, said Gov. Arthur Pingoy Jr. pushed for the LPCC’s convening to address the rising prices of commercial rice in various parts of the province during the last several weeks.
“Our palay output is currently up by around 15 percent but the prices of
rice have remained high since July, which was very unusual,†he said.
Legaste explained that as a standard, milled rice prices are computed by doubling the prevailing buying price per kilogram of wet palay.
Since July, he said the average buying price of palay hovered at P17 to P17.20 per kilo, making the average market price of rice at only P34 per kilo.
Last month, Legaste said their monitoring showed that palay buying prices dropped between P15.50 to P15.80 per kilo but the average rice prices in the markets remained at P34 per kilo instead of just P31 per kilo.
The same thing happened in the last three weeks, which saw palay buying prices dropping to as low as P14 per kilo, he said.
“Rice prices should average P28 to P29 per kilo by now but it surprisingly remained at P34 per kilo,†the official said.
In nearby Koronadal City, the market prices of rice, especially for the premium variety, went up to as high as P37 per kilo or P2 to P3 higher that the retail prices in various markets here.
“This (situation) is not fair for our farmers and consumers,†Legaste said.
Legaste said the LPCC should look into the situation and implement some remedial regulatory measures to stop retailers from making unfair price adjustments.
The LPCC, which is also called price monitoring council, is composed of officials and representatives of the departments of Trade and Industry, Agriculture, Health and other concerned government line agencies.
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