Rice prices to stabilize in Q4, government told
Agriculture Secretary Emmanuel Piñol said that rice industry stakeholders assured him that the unusually high prices of rice in the market will taper off and stabilize in the fourth quarter.
This, as farmers will start to harvest their last cropping for the year and rice stocks imported by the private sector have been completely brought in by the end of September.
“It is, in fact, feared that the delayed arrival of imported rice, which was supposed to come in during the months of June, July and August, will further pull down the prices of palay from the current historic high of up to P29 per kilo for clean and dry grains back to about P20,” Piñol said.
During the meeting between the Department of Agriculture and stakeholders, the latter denied claims made by some groups that the rice supply in the country was only good for five days.
“That is totally untrue as we have continuously delivered rice to Metro Manila and our warehouses still have sufficient stocks,” said a rice miller from Isabela, which was cited by Piñol.
The problem for now, according to Piñol, is on the delay in the delivery of rice the country imported from Thailand and Vietnam.
The government aims to resolve this by imposing penalties on traders that will fail to fast-track the unloading and distribution of imported stocks from ships that already entered the country.