MANILA – The Department of Agriculture (DA) on Thursday said there is no reason for rice retail prices to spike despite the onslaught of the enhanced southwest monsoon and super typhoon Carina.
"There's no reason to worry na magtaas iyong presyo ng bigas dahil sa ngayon maganda iyong harvest natin noong (that the prices of rice will increase because our harvest is good during the last) dry season. We have enough harvest. Iyong ating importation, mataas din iyong level (our importation is also on a high level)," DA Assistant Secretary Arnel de Mesa said in a phone interview.
As of July 23, the price range of local regular-milled rice in Metro Manila is PHP45 per kilogram to PHP50/kg., and PHP45/kg. to PHP55/kg. for well-milled rice, according to the DA-Bantay Presyo (price watch).
Imported regular-milled rice, meanwhile, ranges from PHP46/kg. to PHP52/kg., and PHP51/kg. to PHP53/kg. for imported well-milled rice.
De Mesa said the latest import volume of rice is now at 2.4 million metric tons (MMT).
As of June 1, the country has an estimated volume of 2.16 million metric tons (MMT) of rice stock inventory, according to the Philippines Statistics Authority (PSA).
Earlier, it reported 4.68 MMT of palay (unhusked rice) production for the first quarter of 2024, which was slightly lower than the 4.78 MMT harvest for the same period last year.
Agri intervention
De Mesa, meanwhile, assured continuous aid to 9,198 affected farmers, as agricultural damage hit PHP203.38 million.
The DA regional offices have so far distributed 72,174 bags of rice seeds, 39,546 bags of corn seeds, 59,600 pouches and 1,966 kg. of vegetable seeds to affected farmers.
Around PHP25,000 worth of loan under the Survival and Recovery (SURE) Loan Program from the Agricultural Credit Policy Council, with zero interest, payable in three years is also available, as well as the activation of funds under the quick response fund and Philippine Crop Insurance Corp.
According to the DA-Disaster Risk Reduction and Management Operations Center, the rice sector incurred the highest damage at PHP191.53 million or 2,299 MT in terms of volume, with North Cotabato and Oriental Mindoro being the hardest-hit areas.
De Mesa noted, however, that the reported damage is still far from the 500,000 to 600,000 MT annual projected volume loss in palay production due to natural calamities in the country.
"Karamihan nito nasa (Most of these are still in the) early vegetative stage, pwede pa namang maka-recover iyan (these can still recovere)," he said, citing the October to November harvest schedule.
Besides rice production losses, the DA-DRRM reported a 219 MT volume loss in high-value crops at PHP8.5 million, PHP3.27 million for 56 MT losses for corn, and PHP81,900 for 2,323 heads in livestock. (PNA)
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