MANILA — The Department of Agriculture sees no possible rice price hike until early 2024, its Assistant Secretary Arnel de Mesa said.
According to de Mesa, there are no signs of an increase in rice prices as the country’s supply of regular and well-milled rice is currently enough.
“Our harvest during this wet season is high. From the end of August, this September, until October to November, we do not expect a further increase in the price of rice,” he said in the Bagong Pilipinas Ngayon public briefing on Friday.De Mesa also cited that the incoming additional rice imports, which are still expected to be many during the last quarter of the year, would further stabilize the supply.
“We can expect that our rice will indeed be sufficient, good, and stable — something we can rely on until the beginning of the year 2024,” he affirmed.
The country continuously produces rice, and most harvests in the wet season are expected to be yielded this October, the Assistant Secretary noted.
“We expect the most plentiful harvest during this wet season will be yielded this October. Because of this, the national inventory stocks may reach up to 77 days this October, then 94 days by November, during the end of harvest for the wet season,” de Mesa shared.
“Rice imports are not yet included there, so we can expect that our national rice inventory is abundant and good,” he added. (Angeline Marcelino © Philippine Daily Inquirer)
