Fresh supply can help stabilize rice prices: NFA

ABS-CBN News

Posted at Aug 22 2018 11:51 AM

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MANILA -- With fresh supply, the government can help stabilize rice prices in Metro Manila to P40 to P42 per kilo during the harvest season in September, the spokesman for the state grains agency said Wednesday.

"Kung may bago tayo ma-infuse sa merkado mas maaga pong masasawata ang pagtaas ng presyo," National Food Authority spokesman Rex Estoperez said.

(If new supply can be infused in the market, price increases can be stopped earlier.)

"Ang importante dapat ang government rice ay dapat sapat sa ating pamilihan. Paano gagawin 'yun? Alam na ho ng ating economic managers how to decide on that," he said.

(The important thing is that there's enough government rice in the market. How can that be done? Our economic managers know how to decide on that.)

President Rodrigo Duterte's economic managers have been pushing for taxes on rice imports in place of quotas to help bring down prices of the staple grain.

The consumer price index accelerated for the seventh straight monthin July, government data showed.