Filipino consumers can expect stable rice prices during the holiday season, thanks to better production and the arrival of imported rice from India next month, the Department of Agriculture (DA) said.
DA Assistant Secretary Arnel de Mesa said the Philippines is set to receive 295,000 metric tons (MT) of rice from India, the highest allocation among the seven countries that were granted permits to import the staple food.
De Mesa also said that domestic production of palay will improve, ensuring a 90-day buffer stock for the country.
The Philippine Statistics Authority (PSA) reported that palay output slightly rose by 0.21 percent to 3.79 million MT in the third quarter of 2023. Western Visayas topped the list of regions with the highest palay output at 726,642 MT, followed by Cagayan Valley with 476,343.22 MT.
De Mesa said the expected increase in palay production and the arrival of imported rice from India will help stabilize rice prices during the holiday season. He also said that the DA is working to address other factors that may affect rice prices, such as logistics and transportation costs.
Source: PhilNews24 | November 6, 2023
