Tabuk City, Kalinga - After sliding in the last three weeks and hitting this cropping season's lowest price of P13.00 per kilo last week, the prices of palay in this city began to rally early this week.
As of this writing the price is at a maximum of P14.60 per kilo for fresh and P17.00 for dried palay and at least one local trader forecast that the price will still go up as rice traders in Nueva Ecija and Bulacan are buying palay again.
Cornelio Dawas of the GMD Palay Buying Station in Magsaysay, this city, said that with Nueva Ecija and Bulacan being the center of the rice trade in the area, the increase in demand for palay in the two provinces is felt in the city through higher palay prices.
Dawas also noted that this city is the last to harvest among the northern rice-producing localities so that he foresees that the price might return to the all-time high P16.50 per kilo for fresh palay at the start of the harvest season as buyers scramble for the remaining palay supply.
Dawas said that at this point, the palay harvest in the city has not yet reached the halfway point.
Roderick Espita and Gilbert Espita of the Espita palay buying station in Bulanao, this city, however, do not share the optimism of Dawas regarding the trend of palay prices.
They said that the demand has gone up because rice millers in Isabel a are in the process of replenishing their stocks but that once they procure their requirements, it is likely they will stop buying and the demand will relax.
The Espitas said that rice millers in Isabela now only buy when needed unlike before when they built up their stocks until they ran out of money. **Estanislao Albano, jr.; ZZW, 04 May 2008
As of this writing the price is at a maximum of P14.60 per kilo for fresh and P17.00 for dried palay and at least one local trader forecast that the price will still go up as rice traders in Nueva Ecija and Bulacan are buying palay again.
Cornelio Dawas of the GMD Palay Buying Station in Magsaysay, this city, said that with Nueva Ecija and Bulacan being the center of the rice trade in the area, the increase in demand for palay in the two provinces is felt in the city through higher palay prices.
Dawas also noted that this city is the last to harvest among the northern rice-producing localities so that he foresees that the price might return to the all-time high P16.50 per kilo for fresh palay at the start of the harvest season as buyers scramble for the remaining palay supply.
Dawas said that at this point, the palay harvest in the city has not yet reached the halfway point.
Roderick Espita and Gilbert Espita of the Espita palay buying station in Bulanao, this city, however, do not share the optimism of Dawas regarding the trend of palay prices.
They said that the demand has gone up because rice millers in Isabel a are in the process of replenishing their stocks but that once they procure their requirements, it is likely they will stop buying and the demand will relax.
The Espitas said that rice millers in Isabela now only buy when needed unlike before when they built up their stocks until they ran out of money. **Estanislao Albano, jr.; ZZW, 04 May 2008
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