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Price of rice to increase anew due to high international market prices

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Jervis Manahan, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Residents from Palanas in Barangay Vasra, Quezon City line up early in the morning to purchase rice sold at Php25 per kilo at the Department of Agriculture on a limited basis on July 11, 2023. Mark Demayo, ABS-CBN News/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/08/01/20230711-kadiwa-rice-sale-line-md-6.jpg"/><figcaption>Residents from Palanas in Barangay Vasra, Quezon City line up early in the morning to purchase rice sold at Php25 per kilo at the Department of Agriculture on a limited basis on July 11, 2023. Mark Demayo, ABS-CBN News/File</figcaption></figure></div><div> </div>MANILA - Retail price of rice in the Philippines is expected to rise again, as price of the Pinoy staple soars in the international market.Rice stakeholders said price of rice from Vietnam, Thailand, and India are on the upward trend, causing a hike in imported rice in the country.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/08/01/23/rice-prices-up-by-p150-to-p2-da">Typhoons drive up rice prices by P1.50 to P2: DA</a></li></ul>&quot;Tataas pa ang presyo ng bigas dahil tumataas ang presyo ng imported rice internationally, sa harap ng pag-ban ng exports ng India,&quot; said Rosendo So, chairman of the agricultural group Samahang Industriya ng Agrikultura (SINAG).&quot;The private traders are scaling down their imports because of rising international prices while local traders are keeping on to their stocks and waiting for local prices to go up further,&quot; said Raul Montemayor of the Federation of Free Farmers.This coincides with lean months of July and August, where there is less harvest.&quot;If imports do not come in as needed in the coming months, we could have very tight supplies before harvests start in late September and peak in October and November. The typhoons could further delay harvests since farmers will have to replant,&quot; Montemayor added.The President himself floated the idea of importing rice through government to government transactions.However, the Federation of Free Farmers says the Rice Tarrification Law might hinder this plan.&quot;Hindi na pwedeng umangkat ang NFA, dahil ang papel niya ay buffer stocking na lang, dapat lang nyang kunin sa local farmers, pinagbawalan ang NFA to import, I don&#x27;t know what they will do because of that restriction,&quot; Montemayor said.DA admits rice stock of the National Food Authority is dwindling, with only 1.56 days of supply.&quot;Yun ang ikinakabahala natin yung government stocks wala, even though yung ating private sector meron based on PSA data, syempre as a government, yung mag stabilize ng price, yun ang kailangan,&quot; DA Deputy Spokesperson Rex Estoperez said.Local retailers confirm that price of rice is quickly rising.&quot;Matagal nang mataas, kaya lang ngayon, masyadong mabilis... mabilis ang pag increase ng presyo. Kinakabahan ako dahil lumalaki ang puhunan namin, di naman kami kumikita ngayon ng maigi kasi maliit lang kita ngayon lalo,&quot; said Marideth Caña, retailer at Kamuning Market.Montemayor said the Department of Agriculture did not act earlier to prevent this situation from happening.&quot;Kung maaga lang silang gumalaw, we could have done something to increase our production during the first semester of the year,&quot; Montemayor added.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/07/29/23/marcos-says-rice-prices-may-rise-amid-typhoon-damage-on-crops-el-nio">Marcos says rice prices may rise amid typhoon damage on crops, El Niño</a></li></ul>

Retail price of rice in the Philippines is expected to rise again, as price of the Pinoy staple soars in the international market.

Price of rice to increase anew due to high international market prices

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Price of rice to increase anew due to high international market prices

Jervis Manahan,

ABS-CBN News

Published August 01, 2023 10:21 AM PHT

Read More:

rice

DA

Department of Agriculture

agriculture

rice importation

rice prices

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