SunStar Publishing Inc.
PRICES of rice are expected to hurt consumers’ pockets with the increase of P50 per sack due to decreased importation supply, according to the local vendors association. Erwin Gok-ong, chief executive and former chairman of the Cebu Market Vendors Multi-Purpose Cooperative based in Carbon Public Market, Cebu City, told reporters on Wednesday, Dec. 4, 2024, that there was an average rice price increase by as high as P50 per sack in the last 10 days. He said they expect prices to rise further.
“Our capital for premium local rice Ganador last month was at the lowest P2,670, then we sold at P2,720. Then two weeks ago, it rose to P2,720, and we sold P2,780. Today, we have a capital of P2,770; we sold at P2,830. The reason is due to low supply,” Gok-ong said.He forecasted that they might still increase in the coming weeks. Gok-ong said that the price of Princess Bea also saw an increase of P50, but it did not reach last year’s price of more than P3,000 per sack.
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