Philippines Insider" The Ultimate Philippines Travel Guide for Tourists and Expats
Philippines Insider" The Ultimate Philippines Travel Guide for Tourists and Expats

Author Topic: Prices They are a Changin...... And how it will affect us and those we love.  (Read 16307 times)

Offline coutts00

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my family is doing.....pawnshop on several pcs. of land growing rice!!!!!    better drop all other ideas
   a store like waynes    ia the only other idea ....maybe we can grow rice and supply wayne ;D billy

If I can get workers for it that is, I have lost one sister to the security guard industry this week and the other one is set to go to Catanduanes in a couple of weeks time, might get a brother in law for summer, but they make lousy housekeepers and they don\'t wash, iron and fold clothes very well.

Wayne
Wayne  ;D ;D

Offline coutts00

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The RP just paid 707 USD a tonne for rice and we are approaching 1/4th of the way through the year. Thats landed here with no duty paid add 40% for duty and its P13,677,798,750 and thats just for this shipment. To pay for her lies to the people that there is no rice shortage and to cover up for lack of planning the Philippine Government will take a hit of 509M USD, its 1.5 times the amount for the failed ZTE Deal. And its still not certain that the next time she places an order for rice that it will be filled.

Wayne

Rice imports spending could hit P58.7B, says Escudero

03/26/2008 | 05:43 PM

GMANews.TV

MANILA, Philippines - Sen. Francis Escudero on Wednesday said government spending for rice imports to avert looming shortage could hit P58.7 billion and P21.7 billion of which would go for subsidy.

Escudero said that if imported rice costs P29.40 a kilo and National Food Authority (NFA) retailers would sell it at P18.50, then the P10.90-per-kilo difference would be the \"political premium\" the Arroyo administration would have to pay to prevent the perceived lack of rice.

Imported rice price tag stood at $707 per metric ton based on what the government paid for the 335,000 metric tons it purchased this month. Thus, the two million metric tons targeted for importation this year would cost P58.7 billion at current peso-dollar exchange rate.

“Of this amount, only P37 billion can be recouped, assuming zero trading, storage and transport losses,\" Escudero said.

According to him, estimated import price assumes no tax paid, which is 40 percent of imported value under the country\'s commitments with the World Trade Organization, as the tariff could be waived if food shortage is invoked.

But the senator doubted it if duties would be fully waived as tax payments on rice imports (or Tax Expenditure Fund) bloat the tax effort and make for a beautiful revenue report card.

Moreover, the P58.7 billion fund to be spent on rice importation is equivalent to what we can collect from VAT on fuel this year, Escudero said.

According to him, \"Taxes collected on the gas pump will just be swapped for rice. The rise in the world prices of rice, which translates into bigger corporate subsidy for NFA, was never factored in this year\'s expenditures.\"

As a result, the plan to have a balance budget this year \"is in peril,\" he said.

\"It\'s either a balance budget or a balance diet. In this clash of policies, I predict the \'politics of the stomach\' to win hands down,\" he added.

Amid a growing population, global tight supply of rice and low local productivity, the Philippines is scrounging for crumbs left in the world rice market to avert a shortage. -
Wayne  ;D ;D

Offline coutts00

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Well Ken, looks like you were about 2 days ahead of the RP Government, which I like saying your in 2008 and they are in the 50\'s, which is about right anyway.

NFA advises public not to resort to rice \'panic-buying\'
03/26/2008 | 12:33 PM


MANILA, Philippines - The National Food Authority (NFA) on Wednesday asked the public not to resort to panic-buying as it reiterated the country has enough rice supply.

In an interview with radio dzBB, Rex Estoperez, head of NFA Public Affairs department, assured the NFA is ready to meet the country\'s rice demand, adding that panic-buying would only push the price up.

We still have enough supply,\" Estoperez said.

Estoperez noted that NFA is now keeping a 30-day buffer rice stock - which is twice the amount of standard buffer stock - in preparation for the \"lean months\" which starts July.

Estoperez also said that speculations likely contributed to the increase in the price of rice.

He said it was normal to see hikes in rice prices as the farmers need to pay for higher price of petroleum products while the processors also have to consider their expenditures in pricing their products.

This, even as he fended off talks of a rice supply shortage. - Amita Legaspi, GMANews.TV
Wayne  ;D ;D

Offline John Amend-All

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Here is another article about the rice shortage from Guardian online. Introduces the bizarre idea of \"rice rustling\". Not specifically about Philippines but does give us a mention.

http://www.guardian.co.uk/world/2008/mar/31/thailand.food

John

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Sorry I panic bought....well told Glo to....

Her prefered rice went up from P28/kilo to P30.70 in Tagbilaran in last few days


If it does go up I\'ve told her to give extra to family members to help them cope

If it doesn\'t we can distribute it over a longer period

Offline coutts00

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When we started the store months ago, we bought rice for 23 and 24p a kilo, over time it went up, last week it was 30 and this week 32 next week 34 or 35, customers don\'t question the price, it just flies out the door. 15 kilos disappears in a day sometimes less. Its just going to go up Dave not down anytime soon.

Wayne

BTW, how much did u get?
Wayne  ;D ;D

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When we started the store months ago, we bought rice for 23 and 24p a kilo, over time it went up, last week it was 30 and this week 32 next week 34 or 35, customers don\'t question the price, it just flies out the door. 15 kilos disappears in a day sometimes less. Its just going to go up Dave not down anytime soon.

Wayne

BTW, how much did u get?

8 -50 kilo sacks

Glo needed 2 trikes to get it home  :D

Offline coutts00

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Hold it, meter it out, the lean times here are July thru September, its when every one will be begging for rice, then slowly dish it out, don\'t let everyone know how much you have or they will be banging down the doors with arms open wide.

Wayne
Wayne  ;D ;D

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When we started the store months ago, we bought rice for 23 and 24p a kilo, over time it went up, last week it was 30 and this week 32 next week 34 or 35, customers don\'t question the price, it just flies out the door. 15 kilos disappears in a day sometimes less. Its just going to go up Dave not down anytime soon.

Wayne

BTW, how much did u get?

Wow, Dee & I have expensive taste. Never bothered to take it down to a \'per kilo\' cost as we buy in 5kg bags. We eat Thai Jasmine - Thai Hom Mali at P70 per kilo. Well if nothing else we can tighten our belts a good few notches if we have to but at least we are not taking away rice from those who need it more.

Offline coutts00

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Try going to a rice dealer, buy 25 kilos instead of 5 and you might pay 50 a kilo instead of the supermarket price of 70 or even less. It depends where you shop as to how much you pay. Send Dee to the wet / dry market and you stay in the car, let her haggle a little, you could cut your costs.

Wayne
Wayne  ;D ;D

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Try going to a rice dealer, buy 25 kilos instead of 5 and you might pay 50 a kilo instead of the supermarket price of 70 or even less. It depends where you shop as to how much you pay. Send Dee to the wet / dry market and you stay in the car, let her haggle a little, you could cut your costs.

Wayne

Wayne,

Good advise. There is only the 2 of us so it isn\'t a big expense but if prices start rising your option is a good one.

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Hold it, meter it out, the lean times here are July thru September, its when every one will be begging for rice, then slowly dish it out, don\'t let everyone know how much you have or they will be banging down the doors with arms open wide.

Wayne


Still buying furniture for apartment......I  figure throw a sheet over 3 of them bingo bango bongo .....instant bean bag chair    :D

Offline coutts00

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Even the difference for just 5 kilos, could be as much as 2 of RUPUS\' favorite afternoon liquid snacks or 2 liters of gas or enough over the course of 2 months to pay for your Propane for the house or your water for a month, maybe those are better things to look at.

Wayne
Wayne  ;D ;D

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I\'m not looking to make any profit on it, more just insulate family from the price increases

Offline coutts00

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I agree, but as I have discovered, I gave a bag of 50 kilos to a family member, days later there was none left, it was bartered for veggies, beer, cigarettes, money owed etc. Sometimes a little wisdom goes a long way. Believe me, they will appreciate 5 kilos a week more than 50 kilos at once.

Wayne
Wayne  ;D ;D