The price of rice is going down but it won’t happen tomorrow. As of yesterday, Circle R Products which supplies 45% of the country’s rice supply – decreased the wholesale price of its rice by 5 cents per pound. That should translate into a 5 cent decrease per pound when it hits store shelves sometime on or around next week Tuesday. So instead of $1.36 per pound, you should be paying only $1.31 per pound – but depending on where you are, prices do vary widely – though, according to price control regulations, they shouldn’t.
Jose Alpuche from the Belize Agro-Productive Sector Group which distributes Circle T’s Rice says the factors of production – namely fuel and fertilizers have decreased and they are passing on the savings to consumers. He interestingly added that there could be a further decrease shortly.
As we noted, the price decrease is for rice from Circle R. The other major mills will begin production within the next month and Alpuche anticipates that they too will lower their wholesale price by 5 cents. Government has a price control for rice and Alpuche says it is now up to gob to pass an SI enforcing the reduced price. Minister of Trade Erwin Contreras today told us that he doesn’t expect that government will change the controlled price but will encourage producers to revisit their wholesale prices after the first harvest.
