Cheaper rice expected in October

Agriculture Secretary Francisco Tiu Laurel Jr. said on Monday that consumers may have to wait until mid-October for cheap rice to be sold in markets, as an anticipated effect of the staple grain’s lower import tariff. Speaking in a forum hosted by the Makati Business Club Inc.

at Taguig City, Laurel said rice imports arrived in June at over 100,000 metric tons (MT); July at over 140,000 MT; and August at 380,000 MT. “But you can imagine that from January to June, almost 400,000 tons of rice came in. But then the monthly consumption that we need is only 320,000,” he said, adding that from January to June, there's an excess of about 80,000 MT a month for buffer stocking.

President Ferdinand Marcos Jr. issued Executive Order (EO) 62 in June directing the modification of nomenclature and tariff rates on various products to ensure the continuous supply of goods and protect the Filipino people's purchasing power. Under this order, the levy for imported rice is expected to decrease by P6 to P7.

EO 62 took effect in July. Laurel said that for two months, August and September, there are still old rice stocks to sell at an ‘expensive’ price. “So I would expect that the price should go down by mid-October based on the new shipments that have arrived,” Laurel said.

As of September, the Agriculture chief said there's only about 60,000 MT of rice that arrived. “We're already mid-September. So that's a problem.

There's no shortage, but it might not [g]o down that soon,” he said. According to him, there are factors contributing to the slow arrival of imported rice, one of which is port congestion. “There's delays.

Port congestion. Unloading is slow. [T]here's 20 ships in Bataan waiting to be unloaded.

There's in Subic, Manila, Batangas,” he said. “For the forecast for this year, we should know the adjusted forecast by the end of this month, " he added. Multisectoral efforts Meanwhile, Laurel laid out government initiatives for modernizing the local farming sector.

Among which is strengthening collaboration with the private sector. “This summit is a timely and essential platform for dialogue between government and the private sector. It is an opportunity to exchange ideas, forge partnerships, and develop strategies that will ensure food security in the country,” he said.

"Over the past few years, the Department of Agriculture has been steadfast in its efforts to enhance food production and ensure food security for all Filipinos,” he added. To foster the involvement of agriculture stakeholders, DA will form consultative councils that will meet monthly to craft policy and program directions. Laurel said that global food losses amounted to 14 percent between harvest and retail, while an additional 17 percent accounts for wasted food at later stages.

Meanwhile, post-harvest losses in the Philippines for key crops can reach as much as 40 percent, linking to outdated infrastructure and inefficiencies..