The Government announced via press release on Friday that it had decided to reduce the controlled price of rice, down by 11 cents a pound, from $1.31 to $1.20 a pound (retail) in Belize City, and down to $1.22 a pound in the districts.
The controlled wholesale price for a 100-pound sack of rice has gone down from $126 to $112 – a savings of $14 on the sack.
It is noteworthy, however, that the controlled prices of rice still lag behind the prices announced by rice producers at the end of last month.
Producers had announced that because the price of fertilizers and chemicals for rice production had fallen, they were passing on the savings to consumers.
Stanley Rempel, manager of Circle R facility in Blue Creek, Orange Walk, had informed our newspaper that the new price of rice was $1.15 wholesale and $1.17 retail, representing a 10.7% fall in prices.
At the time, the Bureau of Standards informed our newspaper that even though the producers had decided to decrease the prices for rice, government had not decided to change the controlled price.
Prime Minister Dean Barrow informed Amandala on Thursday that a subcommittee of Cabinet had met with rice producers, and government had later decided to drop the controlled price of rice.
The controlled retail price should now be $1.20 a pound in Belize City, Corozal, Orange Walk, Belmopan and San Ignacio; $1.21 a pound in Dangriga; and $1.22 a pound in Punta Gorda, San Pedro and Caye Caulker.
The controlled wholesale prices are $112 for a 100-pound sack in Belize City, Corozal, Orange Walk, Belmopan and San Ignacio; $113 a sack in Dangriga; and $114 a sack in Punta Gorda, San Pedro and Caye Caulker.