DA monitoring sees P3 per kilo increase in price of local rice

The Department of Agriculture (DA) has monitored that local rice prices have increased by up to P3 compared to March 9, or just a day before the mega oil price hike took effect.

Meanwhile, the price of imported rice climbed by up to P5 per kilo.

According to Bernadette Reyes’ Thursday report on “24 Oras,” the following prices were monitored:

Imported well-milled rice: P43-49 (March 9) P45-49 (March 18)
Imported regular milled rice: P37-46 (March 9) P42 -45  (March 18)
Local well-milled rice: P40-54 (March 9) P40-57 (March 18)
Local regular milled rice: P33-48 (March 9) P35-47  (March 18)

DA Secretary Francis Tiu Laurel has recommended a P50 per kilo price cap on imported rice to protect local palay prices this harvest season.

“Ang landed cost is P35 eh so plus P10 yan sa merkado. Meron na kita ang importer, trader, retailer dapat P45 lang yan to P48 nga. Dapat ang imported rice nasa P45 to P50 yan. Anything above that is tingin ko profiteering talaga and taking advantage,” Laurel said.

(The landed cost is P35, so plus P10 in the market. The importer and trader should earn P45, but they’re earning P48. Imported rice should cost P45 to P50. I think anything above that could be considered profiteering.)

At the Pobalacion Market in Makati, retailer Diana Adriano sells well-milled rice for P58 to P60, at least a P3 increase from the usual P55 price.

She said her increase is minimal compared with others, who sell rice at around P70 per kilo.

Meanwhile, Leonora Sena is hesitant to raise rice prices at her eatery for fear that customers might turn to other establishments.

Instead, she served fewer portions since, from P2,700, she bought a sack of rice for P3,200.

Some retailers said it would help them if they could sell rice at P48 per kilo through supplies from Food Terminal Inc. and Planters Products Inc.

Currently, 36 markets offer affordable rice, and plans are underway to expand distribution to Cebu, Cavite, and other provinces.

DA ensured the country had sufficient agricultural supplies, including vegetables and pork, for the following months.

“I safely say hanggang June or even July walang issue sa supply of almost everything. Number one main reason marami tayong stock sa NFA, almost 400,000 tons of rice then kasagsagan ngayon peak harvest season ng bigas. Prices should remain stable at this time,” Laurel said.

(I can safely say that until June or even July, there will be no issue with the supply of almost everything. The main reason is that we have ample stock at the National Food Authority, almost 400,000 tons of rice, and we are currently in the peak harvest season, so prices should remain stable.) — Mariel Celine Serquiña/LDF, GMA Integrated News