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June 10, 2008

7:29 PM

Is There an End for the Soaring Rice Prices?

  • Mood:

When my wife and I went to the market last Sunday I was taken aback by the long queue of people who wanted to buy government supplied rice that only amounts 25 pesos a kilo compared with the commercial rice that is already priced 52 pesos a kilo.  Only people like me who suffer time shortage will not take advantage of such opportunity. I heard from one in line that when he arrived at around 10 o'clock in the evening there was already a line forming.  Can you imagine yourself doing that when the rice retailer will open his store at eight o'clock in the morning of the following day?  Such a waste of time to spend for a two-kilo rice supply (the most a retailer can ration to an individual as directed by the government).

If there is no shortage of rice in the Philippines as announced by President Gloria Arroyo why then the price keeps soaring?  Is it because there is really a rice shortage?  Or this is just the acts of some millers who are hoarding rice in anticipation for a higher market price?  If this is so what can the Arroyo Government do to stop such act?  Is the present government inutile in regulating the price of this commodity?  When will this price bloating ends?

One thing for sure though, the poor is getting poorer while the capitalists are getting richer.  Why?  The poor can't make enough money since they are in the queue for a cheaper rice instead of doing some job to earn.  The capitalists who hoards rice supply on the other hand are enjoying the gain of their business. What a sad situation.

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