The Department of Agriculture (DA) claimed that commercial rice prices have gone down by as much as P2 per kilo all over the country even as the lean months have started.

The DA said this is due to the month-long “selective bombardment” of state-subsidized stocks in the local market.

Director Romeo Recide of the Bureau of Agricultural Statistics said that while rice prices in Metro Manila has already stabilized, the cost of the grain in other regions has  already dropped by as much as P2 per kilo as of last weekend.

Agriculture Secretary Arthur Yap said the price drop is significant because it is happening when retail prices are “supposed to be on the upswing during the traditional three-month lean months.”

To stabilize prices during the lean months, the National Food Authority (NFA) will pump some 350,000 metric tons (MT) or 7 million bags of rice into the market every month.

DA figures show that in Baguio City, regular-milled rice, which used to sell for P38 a kilo, now costs only P36 a kilo. In the cities of Iloilo and Cebu, regular–milled rice now costs only P38 a kilo from a high of P40 a kilo.

In Tuguegarao City, the price of regular-milled rice dropped from P35 to P34 a kilo, well-milled rice from P37 to P36 a kilo and premium rice from P39 to P38 a kilo.

A kilo of regular-milled rice in Zamboanga City, which used to cost P39 a kilo, now sells for P38 a kilo; while in Davao City, the price dropped from P38 to P36 a kilo.

In Cotabato City , the prices of the staple dropped by P1 a kilo, with the regular-milled variety now selling from P38 to P37 a kilo, well-milled from P40 to P39 a kilo and premium from P41 to P40 a kilo.

The NFA said it has sufficient inventories owing to the bumper summer harvests and incoming imports from Vietnam totaling 600,000 MT.

Bishops call for review of oil deregulation and E-VAT laws 

COMING out of its regular midyear meeting, the Catholic Church on Monday called for a review of the country’s oil deregulation and the expanded value-added tax (E-VAT) laws imposed on oil imports in the wake of a spate of price increases this year.

Commercial rice prices starting to go down 

The Department of Agriculture (DA) claimed that commercial rice prices have gone down by as much as P2 per kilo all over the country even as the lean months have started.

BFAR confident of 8% growth for fisheries this year

DESPITE the havoc wreaked by Typhoon Frank on commercial and municipal fisheries in Region 6  (Western Visayas) and Romblon, the Bureau of Fisheries and Aquatic Resources (BFAR) remains confident  the local fisheries sector will post an 8-percent production growth for 2008.

Aussie fund calls for 2nd round bidding applications

DAVAO CITY—Australia’s Enterprise Challenge Fund (ECF) opened its second bidding round of applications for businesses “with impact on poverty alleviation and which are willing to overcome external obstacles and share some of the risks.”

Nido, Kairiki Energy Ltd. start survey of Service Contract 54

AUSTRALIA-based Nido Petroleum Ltd. and its partner Kairiki Energy Ltd. said they have started site survey operations in Service Contract 54 (SC54) in northwest Palawan.

Baguio to push for LPG use in motor vehicles

BAGUIO CITY—The Public Transport Office of the Cordillera Autonomous Region (CAR) is not about to wait for the P1-billion government loans for engine conversion to the use of liquefied petroleum gas (LPG) as motor- vehicle fuel to reach the city before taking action.

Carbon productivity must increase 10-fold to stabilize greenhouse gases

DEVELOPED and developing countries must pose a 10-fold increase in carbon productivity in the coming decades in order to stabilize greenhouse gases (GHGs) and maintain economic growth in the world, according to a study released by the McKinsey Global Institute (MGI).