There is no hike in prices of rice in Negros Occidental for now.
The assurance came from National Food Authority Office Provincial Manager Procopio Trabajo II after reports of increases in the price of rice in other parts of the Philippines.
Trabajo said that, based on their survey, the average rate of commercial regular milled rice remained at P32 per kilo and P37 for every kilo of well-milled rice.
Gov't to monitor
The government will conduct strict monitoring of rice prices to prevent traders from unreasonably jacking up the price of the major staple. It said however that the increase in rice prices would be temporary.
Deputy presidential spokesperson Abigail Valte said in a press briefing in Malacañang yesterday that concerned government agencies will do the monitoring, adding that the price increase is seasonal and will go back to original prices once the harvest season starts.
The increase is part of a natural cycle of rice supply, Valte noted.
Foreign borrowing set
at $2.2B: Treasury exec
Economic managers have approved a $2.2 billion foreign borrowings for 2014, bulk of which are accounted for by loans to be taken through official development assistance.
ODA loans or those to be sourced from multilateral lenders like the World Bank and the Asian Development Bank, among others, were set at $1.2 billion while foreign commercial borrowings were set at $1 billion, same as the program for this year.
However, National Treasurer Rosalia de Leon said the $1 billion set for commercial borrowing was set “because we just want to have several options” for financing.