200 pesos for a 10lb bag seems to be the going rate.


S.

one pesos more per pound it seems to me like is too high. Lets speculate a little here. If they are transporting 1000 baggs of 120 pounds each it will be 120,000 pesos. So if we were add the extra costs for fuels and transport per 1000 baggs it will not come up to 120,000 pesos. So i suggest a .50 cents increase per pounds and not 1.00 peso.

Yes,

Tell the rice growers how much they can charge.

When rice production goes down we will deal with it by giving them government subsidies.

@AC,

Good comment, observation.

I don't know how or when the government will stop trying to intervene in market economics that they cannot control. The people should also understand that cycle of dependency on government needs to be broken; also, population must become better versed on market dynamics and cost and profit. If they want all these benefits of government control then, perhaps, they should emulate Cuban system-which them, themselves, wish to vacate. Maybe they could pass the torch.

MJEV.

GlomarEx As I have written before there are very few countries where the government does not in some way get involved with the markets in basic items and this is necessary to stop the manipulation of the market by producers or vendors . In theory when there are numerous people in the production and selling side and there are numerous buyers, all acting quite independently of each other , then there may be no need of regulations and surveillance , but in the real world that is not the case .We can see colusion between producers or sellers to artificially set prices and most of that is caused by the deadly sin of greed .

glo is ... again.

The government must set basic prices. Producers in countries cannot handle huge manipulated swings in market prices manipulated by speculators and US MNC's.
2 years of bad prices can drive a producer out of business; likewise if price is too high poor people suffer and rich producer get even richer.
Ideally there would be an international commission setting prices in various countries.
Now the target prices for rice are set by a group of traders meeting in Bangkok.
Only a few percent of rice is traded on international markets - the vast majority is internal and the target of the countries is to ensure food security and little food import bill.
The system for price setting may change.
http://www.financialexpress.com/n....-set-benchmark-rice-price/766496/
S.

By the way does anyone pay anywhere near 57 pesos per pound of rice ..I think it is closer to 40 pesos in la Sirena

I pay 20 pesos a pound for the best type - in Nagua. @ Ricardo- the article doesn't say 57 pesos a pound, it says US$ 0.57 - slight difference....

Now that oil has fallen more than 9% per barrel (under $100) today does anyone believe that we will see a reduction in the price at the pump?

helen ..thanks for the correction ..yes a big difference .I do not eat rice myself so when I buy it for guests it is in packets ..

@ Juan - Not so fast, yes oil made a dropped today it is simply a retracement on the chart its a technical pull back before the next leg up. everybody takes some profit off the table which causes this effect. Once a support level is reach, the buy orders (long Positions) will be back in play . Remember the market is driven by fear and greed.

The sooner the DR gets out of the business of price support the better. Only in providing for meals in schools, to support the learning environment, and for some small stocks, in case of emergency needs, should the government entertain getting involved in pricing agricultural production.