Hey Hivers! We are approaching the middle of the month of April, and the peak of the rice harvest season is going on in this region of the country. This is also the month in which we are experiencing the hottest days throughout the year.
Here is a screenshot courtesy of Google Maps, which shows that we are almost in the middle of the island of Luzon. This is our hometown province of Nueva Ecija, which is the rice granary of the country, thanks to its vast, flat, and fertile land.
A Controversial Crop
Rice is the main food for Filipinos. Every meal is eaten with rice. That's the reason why every time the price goes up, it becomes the headline of every news story and broadcast media. Even the politicians make promises of a lower price for rice, but it never happens. Market forces will always prevail.
No to Import
Importing is not always bad for a country, especially if it is done to stabilize the supply and make sure there are no shortages. The problem is when government officials become greedy by allowing more imports than necessary and neglecting to spur local production. Importing too much not only destabilizes the prices but also the local rice industry itself, which includes farmers, workers, truckers, millers, distributors, and retailers.
Decades of Corruption and Negligence
The stereotype in the country is that when you are a farmer, you are poor. When you google now to see what the income of a Filipino farmer is, you can see that the usual earning is below 10,000 pesos (less than $200) a month. Corrupt officials earn big commissions and kickbacks from imported goods. Past officials lack proper planning and investment in the agriculture sector, which reflects in the income of Filipino farmers, forcing them to sell their farmland, which is converted into other uses than agriculture, reducing the land that is dedicated to food production.
Rice Mill Business
Rice Millers is engaged in buying raw rice (palay), storing, milling, and packing before the final product is delivered to the distributors and retailers. Jobs inside the rice mill are tough. From drying to milling, it requires the manual lifting of sacks of rice, which weigh about 50 kilograms at least. It is not an easy task, especially in very hot weather.
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I just realized that silver and gold went up in value. So my stack of silver and even the gold jewelry we had that was bought years ago, even with the premium, is on the profit side now. Well, gold and silver are not for quick profit; they are more like preserving wealth instead of saving cash, which erodes their buying value every day.
Here are my silver coins, which I bought years ago. Circulated coins like this are normally priced at their silver-content value.
That's all for now! Next blog soon: