South Cotabato’s Provincial Agriculture Office based in Koronadal City today confirmed reports that buying price of palay in the province has recently gone down but the same office insists the prevailing buying price is still stable.
Provincial Agriculturist Reynaldo Legaste said, starting three days ago, traders in the province reduced their buying price of palay to P14.50 from P15.00 to P15.50 in the first two weeks of February.
Legaste, allayed concerns of farmers that the price could go down further.
“With the more than 5,000 hectares of rice that are yet to be harvested in March, we can expect the prevailing price to persist until April and May,” he said.
Legaste attributed the stabilization of the price of palay to the capacity of the traders to absorb farmers’ production.
He pointed out that the slight reduction of buying price is beneficial to consumers.
“What is good about this is that the price of commercial rice has also gone down by P1.00 per kilo across classifications.
“Consumers can now find commercial price at P30 per kilo, unlike two weeks ago when the lowest price of commercial rice was P31 per kilo, ” he said. (PIA 12)
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