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Despite price caps, rice inflation fastest in 14 years

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Inflation for rice posted its fastest increase in 14 years, even as the government imposed caps on regular milled and well-milled rice last month, according to Philippine Statistics Authority data.

MANILA, Philippines — Inflation for rice posted its fastest increase in 14 years, even as the government imposed caps on regular milled and well-milled rice last month, according to Philippine Statistics Authority data.

He pointed out that of the 2,601 regular milled rice varieties monitored by the PSA, only 640 were compliant with the price cap of P41 per kilo. As for well-milled rice, only 687 of 3,498 varieties tracked by the PSA were within the price cap. In an interview with The STAR, SINAG chairman Rosendo So said the peak of palay harvest would start this Oct. 15 and end on Nov. 15.

So stressed that the DA should take advantage of the rains and encourage farmers to plant to ensure enough rice supply until June 2024, even without the imported grains.

 

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