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Well-milled rice prices average P56.35 per kilogram

THE national average price of well-milled rice was P56.35 per kilogram as of mid-June, according to the Philippine Statistics Authority (PSA).

The PSA said prices edged lower during the June 15 to 17 period, which it calls the second phase of June, from the average P56.50 per kilo reported on June 1 to 5, or the first phase.

The highest retail price in the first phase was reported in the Western Visayas, with an average price of P59.22 per kilo during the period.

At the low end during the period was Ilocos Region where rice prices averaged P52.47 per kilo.

The PSA reported that regular-milled rice averaged P51.14 per kilo, down from P51.33 per kilo during the first phase.

The highest price for regular-milled rice was recorded in the Central Visayas where a kilo of regular milled rice fetched P53.83 per kilo.

At the low end was the Cagayan Valley, where regular-milled rice averaged P45.95 per kilo.

The Department of Agriculture (DA) has said that it would recommend a hike in rice tariff once rice prices fall to P42 to P45 per kilo.

Executive Order No. 62 formalized the reduction of rice tariffs to 15% from 35% until 2028, in an inflation-containment measure.

Additionally, the PSA said that national average retail price for tomato was P80.07 per kilo in the second phase of June, against the P71.47 per kilo during the first phase.

The DA had said a delayed harvest caused an increase in tomato prices. — Adrian H. Halili