NPCC seeks 60-day extension for P50 rice price cap

The National Price Coordinating Council (NPCC) has recommended to President Ferdinand "Bongbong" Marcos Jr. a 60-day extension of the ₱50 per kilo price cap on imported rice, according to Bernadette Reyes’ report in “24 Oras” on Wednesday.

Tes Castillo told GMA News that she always chooses the cheaper imported rice over the rice harvested by Filipino farmers.

The monitoring conducted by the Department of Agriculture (DA) showed that imported rice costs between P45 to P50 per kilo, while the local rice is P58 per kilo.

“Kung saan makakatipid na medyo maganda yung quality,” said Tes.

(Wherever we can save money, as long as the quality is decent.)

Data from the DA shows that Philippine rice imports for the first half of the year increased compared to the same period last year.

Officials said this is necessary so the country does not rely solely on local harvests that are already heavily affected by rising fuel and fertilizer costs — with even more challenges on the horizon such as the looming effects of El Niño.

Local farmers are reportedly not losing money despite the increase in the importation of rice. Officials note that local produce is still selling well, and the National Food Authority (NFA) has even raised its buying price for local palay.

However, with the local harvest season set to begin in September, officials are assessing whether to temporarily suspend rice imports in the coming months, a decision that will depend on the sufficiency of the local yield.

“Kailangan din natin ng enough supply na mura at ma-assure natin yung stability ng volume natin hanggang end of the year,” said DA spokesperson Arnel de Mesa.

(We also need an adequate supply that is affordable, and we have to ensure the stability of our volume until the end of the year.)

Meanwhile, NPCC’s recommendation helped lower inflation, or the rate at which the prices of goods and services rise in the country, the DA said.

However, some retailers are against the recommendation to extend the P50 price cap.

“Kahit hindi na siguro para malayang magtinda. Kasi hindi rin kami makapagtinda nang maayos, pag tinaasan mo baka hulihin ka,” said rice retailer Nards Zara.

(Maybe it shouldn't be extended, so we can sell freely. We can't even sell properly right now — if you raise your prices, you might get arrested.)

The DA is urging rice traders and importers to scale back imports of five-percent broken rice for now to give local harvests a chance in the market. — Vince Angelo Ferreras/BAP, GMA News