RICE is staple food. It is a strategic agricultural and food commodity. It is a mainstay for the rural population and for household food security. Rice is also an important “wage” commodity for workers in the cash crop or non-agricultural sectors. This duality has given rise to conflicting policy objectives, with policymakers intervening, coming to the rescue of farmers when prices fall too low, or to the defense of consumers during sudden price hikes. Farmers and consumers get riled up about rice prices. And as basic as it is, rice plays to the law of supply and demand.