The Department of Agriculture (DA) assured the public on Monday that the country’s rice supply and prices will remain stable, citing the upcoming palay harvest and the arrival of imported rice.
In a Palace briefing, DA Assistant Secretary Arnel de Mesa said rice prices have already begun to drop, as promised by President Ferdinand Marcos during the 2022 national elections.
De Mesa said the DA expects to harvest 20 million metric tons of palay this year.
Despite losses from recent typhoons, which caused a loss of around 420,000 metric tons, he said these are within the expected range of 400,000 to 600,000 metric tons annually.
He added that prices, which reached P50, are starting to decline, in line with Marcos administration’s commitment.
“Our imports are now at three million metric tons. So, when it comes to supply, our expectations and projections are looking good. As for the prices, we’ve seen that imported rice is now at P42, while local rice is at P45,” De Mesa said.
De Mesa noted that by October, DA Secretary Francisco Tiu Laurel expects more significant reductions in rice prices, with changes continuing through January.
The DA is also coordinating with the Philippine Ports Authority to release 888 containers of rice—approximately 23,000 metric tons—that have been held at ports.
This represents just 0.75% of the total 3.1 million metric tons of imported rice that have entered the country this year, according to Bureau of Plant Industry data.
As the holiday season approaches, De Mesa noted that rice imports tend to increase during the fourth quarter of the year.
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