According to Agri officials see stable rice prices | Inquirer Business, a Department of Agriculture (DA) official stated that better production and the arrival of imported rice from India next month are expected to stabilize retail prices of rice, particularly during the holiday season.
According to Agriculture Assistant Secretary Arnel de Mesa, authorities anticipate that prices would stay steady and won't rise to the P52 per kilogram level as previously noted.
The 295,000 metric tons (MT) of rice from India are anticipated to arrive in the nation in December, according to the DA official.
As previously mentioned, on October 18, the Indian Ministry of Commerce and Industry announced that 1.03 million MT of rice will be sent to seven nations: Nepal, Cameroon, Cote d'Ivoire, Republic of Guinea, Malaysia, the Philippines, and Seychelles.
Despite India's July export ban on non-basmati white rice, the Philippines was given the largest share.
Additionally, According to Agri officials see stable rice prices | Inquirer Business, the Department of Agriculture official stated that the country will have a 90-day buffer stock of palay as local output will increase.
The third quarter of 2023 saw a minor increase in palay output of 0.21 percent to 3.79 million metric tons (MT), according to statistics released by the Philippine Statistics Authority (PSA).
Western Visayas led the list among the regions, with 726,642 MT, or 19.1% of the overall volume. Nonetheless, the volume decreased by 14% from the previous year.
According to Agri officials see stable rice prices | Inquirer Business, second place went to Cagayan Valley, with an overall share of 476,343.22 MT, or 12.5%.
