Metro Manila (CNN Philippines, October 7) — Consumers can expect no price hikes in rice anytime soon as the country’s supply is enough to last until at least early 2024, a Department of Agriculture (DA) official said Friday.
“Mataas, o bumper, ang ating harvest ngayong wet season magmula po noong katapusan ng Agosto. Ngayong Setyembre hanggang Oktubre hanggang Nobyembre…wala tayong inaasahan na pagsipa pa ng presyo,” DA Assistant Secretary Arnel de Mesa told a public briefing.
“Maasahan natin na talagang sapat, maganda at matatag ang supply ng bigas natin na maasahan natin hanggang sa pagpasok ng susunod ng taon na 2024,” he added.
[Translation: We have had an abundant harvest this wet season since the end of August. This September until October and November, we expect no increase in rice prices. We can expect that we have enough, abundant, and stable supply of rice until early 2024.]
The national inventory stock may reach 77 days in October and 94 days in November, while the country has imported 271,000 metric tons of rice in September, said De Mesa.
According to the DA’s latest price monitoring, the per kilogram cost of local regular milled rice is ₱44, while well-milled rice is ₱48.
The price adjustments took effect days after President Ferdinand Marcos Jr. lifted the price ceiling on rice, which set prices at ₱41 to ₱45 per kilogram.
