DA-Philippines : Import ban not an excuse to raise rice prices
The Philippine Department of Agriculture warned retailers not to use the upcoming 60-day rice import ban as an excuse to raise prices. Despite a PHP2/kg retail hike, officials said stocks are sufficient, with record harvests and arrivals. Price increases are seen as speculative, not supply-driven.
MANILA – The Department of Agriculture (DA) on Monday said the impending 60-day ban on rice importation should not be used as a justification to increase retail rice prices in local markets.
The agency issued the statement following a slight PHP2 per kilogram rise in retail prices observed during a joint market inspection by the DA and Department of Trade and Industry (DTI) at Quinta Market in Manila.
Agriculture Secretary Francisco Tiu Laurel Jr. reminded retailers to follow the PHP43 per kilogram maximum suggested retail price (MSRP) for 5 percent broken imported rice.
“They cannot sell at a high cost. They should sell local rice instead and follow the MSRP, on imported rice,” he told the Philippine News Agency in a Viber message.
“I will look into it and identify source nila (their source),” Tiu Laurel added, as some retailers raised their retail prices from PHP43 per kg. to PHP45 per kg. due to a “thin supply.”
DA spokesperson Assistant Secretary Arnel de Mesa, however, reiterated that the country has sufficient stock of rice.
“Hindi nila dapat gamitin na reason na dahil may import ban e tataas na agad (They should not use it as a reason that because of the import ban, there will be an immediate price increase),” he said in a separate interview.
Nationwide rice stocks as of July 1 stood at 2.815 million MT, composed of commercial, household, and National Food Authority reserves.
Premium imported rice in Metro Manila ranges from PHP42 to PHP48/kg, while local premium rice is priced at PHP46 to PHP57/kg, according to the DA’s Bantay Presyo.
“Ang bilis naman noon, wala pa nga iyong import ban. Ang daming dumating na bigas nitong mga nakalipas na buwan at may parating pa nitong (That’s quick, the import ban is not yet in place. There have been high import arrivals during the previous months, and there is still coming in this) August,” de Mesa said.
De Mesa also highlighted that the country is experiencing a record palay (unhusked rice) harvest during the first half of the year.
“Our harvest volume is at a historic high. We have ample rice supply in the market,” he said.
According to the latest data from the Philippine Statistics Authority (PSA), palay production from January to June reached over 9.077 million metric tons, surpassing the previous record of 9.026 million metric tons in the same period in 2023, and last year’s 8.53 million metric tons.
De Mesa further said recent price increases appear to be driven by speculation rather than actual supply shortages.
“It is ironic that the ban was imposed because of an abundance of rice in the market, yet some now claim that there is no rice supply,” he added. (PNA)
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Source : PNA
