Dealing in Rice.

[Footballbatplayer 17]

Has anyone ever tried it? large amounts? small amounts ? My wife is interested in that she says it very profitable. If anyone has any posatives and/or negatives please indulge me.  

[Mandy 50]

Rice price is strictly regulated, very small margin the only way you can make profit is on big volumes and fast turnover which means either you have regular customers who buys in volumes or your store should have a very good traffic like public markets. 

Some rice seller cheats by mixing premium rice with low quality rice to increase profit. 

[Dolsos 504]

We sell rice by kilo, we do 5 varieties ranging from 30 (broken rice) to 40-43 depending per kilo. 

 

Profit margin is pretty minimal, 2-8peso per kilo if you get 50kg in the sack but not uncommon to get shorted in the sack.  If there's noone in your area already selling rice you may be able to get a bit more or if you buy in large quantities and get larger discounts then we do I suppose.

 

 

We also sell feeds but same deal, fairly low profit per kg need to rely on high volume sales to make good money. 

But not a bad business to set up in addition to a sari sari.

 

edit:  For instance, our last bag we bought a 1560p/50kg bag, its selling 35/kilo.

Edited May 3, 2013 by Dolsos

[smidsy 265]

I could be wrong, but I think the original post was about rice trading, as in commodity trading ??

 

Hmm, on second thoughts, i probably am wrong.

[Raven 629]

As "Dolsos", we also sell rice buy kilo, in our Sari Sari and only small profit and it need repacking. But as a part of Sari Sari it´s a must, but then it´s better to sell icewater for P2 each!

Selling rice in large amounts, things like a dry bodega area and rats/mice problems. Softdrinks are a lot better product to sell.

[Skywalker 19,177]

There are probably hundreds of thousands of people buying and selling rice here, mostly on a local level. I seriously doubt any of them are getting rich on it. It's a staple food here, the price is decided by supply and demand. Ask yourself this, who is making big money? This country imports rice, so exporters are making money in rice?

 

Rice is not a traded commodity like Gold, there is no 'rice price' that I have ever seen on any stock exchange, is there?

 

I remember a few years ago a politician in Thailand suggested a 'rice price' like the oil price set by OPEC. Clearly the guy wasn't a farmer!

[smidsy 265]

 

Rice is not a traded commodity like Gold, there is no 'rice price' that I have ever seen on any stock exchange, is there?

 

Yes there is, same as wheat, corn, barley, oranges, pineapples, pork, beef, and even trades on just the cuts of those(ie. loin rib market, etc). Everything and almost anythings is traded in one form or another. Rice is an easy one, and is traded on the commodities markets.

 

Google showed lots of results http://www.indexmundi.com/commodities/?commodity=rice

[Knowdafish 1,772]

The only way to make a decent chunk of $$ here selling rice is if you deal in massive volumes such as truck loads. I know of one foreigner and his filipina wife that have a HUGE rice mill and deal in such quantities. He said on average they they make a 1p/kilo profit on a truck load of rice, but.....they sell upwards of 10 truckloads a week! 

[smokey 21,914]

The only way to make a decent chunk of $$ here selling rice is if you deal in massive volumes such as truck loads. I know of one foreigner and his filipina wife that have a HUGE rice mill and deal in such quantities. He said on average they they make a 1p/kilo profit on a truck load of rice, but.....they sell upwards of 10 truckloads a week! 

this is the closest to fact... my wife cousins are one of the largest dealers in cebu and they make much more profit from tangay then the rice 

[samatm 2,996]

we  trade in rice but make money on providing  sacks of rice  on  utang (credit)   so  monthly we make  10p per kilo instead of 2p.   We loan out about 50 sacks a month.          We have a hired  bookie that handles all the transactions and collects the debt each payday.  She takes  30%    so far so good.     We also  loan money to farmers to plant rice....when they cant pay back (which is every planting season they pay us inkind in  sacks of raw rice.)      So  Far so good.     So for one loan   We are paid back in bushels each season.