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Rice prices in Zamboanga City continue to plunge

Commercial rice prices in Zamboanga City have gone down to as much as P2 a kilo following the effective "selective bombardment" strategy of the government carried out by the National Food Authority to flood the state-subsidized stocks in order to further pull down retail prices and shun undue price spikes wherever and whenever necessary.

Provincial Agricultural Statistics Officer Engr Belinda Garcia of the Bureau of Agricultural Statistics (BAS) said, based on the regular monitoring conducted by her office, prices of commercial rice have tremendously gone down and are expected to continue to plunge despite the start of the July-September lean months.

In a report by Jovani Roy Quintas, Data processor/enumerator, BAS, he said commercial prices of: premium rice has dropped to as low as P47.00 a kilo this week compared to its price of P49.00 last week; well milled rice from P42.00 to P40.00; Fancy rice from P44.00 to 43.00; and regular milled rice from P39.00 to P33.00 while NFA rice remained at P25.00 a kilo.

Mr. Quintos said BAS is regularly conducting rice price monitoring in Zamboanga' City's main public market at least thrice a week, (Monday, Wednesday & Friday) to oversee and apprehend rice retailers who are over pricing and hoarding. (PIA ZC)