By Stephanie Sevillano | Philippine News Agency
The country’s food supply will remain sufficient until July despite uncertainties caused by the conflict in the Middle East, the Department of Agriculture (DA) said Thursday, easing fears of price increases.
“Definitely, walang issue sa supply. I can safely say hanggang June or even July, walang issue sa supply of almost everything,” DA Sec. Francisco Tiu Laurel Jr. said in an interview.
“So, in general, prices should remain stable at this time.”
Stable supply, backed by sufficient inventories, is assured for rice, corn, sugar, vegetables, and livestock.
The country is at the peak harvest season for rice and onions, alongside the dry-season harvest and planting of vegetables.
Tiu Laurel also disclosed plans to expand sales of the cheaper “Binhi” rice in select public markets under Food Terminal, Inc. (FTI).
The initiative aims to provide cheaper rice options and curb profiteering by unscrupulous traders.
“That’s why we have launched the Planters Product, Inc. (PPI) rice and Binhi. It’s being sold now at P48 per kilo, the Binhi, while the PPI rice is at P45 per kilo in 36 markets in Metro Manila,” Tiu Laurel said in mixed English and Filipino.
Beyond the 36 Metro Manila markets, the DA plans to expand availability to Metro Cebu, Cebu province, Cavite, and Bulacan, among others.
“It’s just an option for the people, and para makita nila na ito imported din, maganda din, ito lang ang dapat na presyo,” Tiu Laurel said.
Retail rice prices are being closely monitored amid rising logistics costs.
“Of course, may konting taas na nakikita almost P2 per kilo dahil sa freight, transport cost ng lahat tumaas naman, as we all know,” Tiu Laurel said.
According to DA Bantay Presyo, as of Wednesday, premium imported rice in Metro Manila sells for P55 to P63 per kilo.
Imported well-milled rice ranges from P43 to P49 per kilo, while regular-milled rice is priced at P42 to P45.
Local premium rice ranges from P46 to P60 per kilo, while well-milled and regular-milled rice are priced at P45 and P40 per kilo, respectively.
“Dapat ang imported nasa P45 to P50 iyan, anything above that is, tingin ko, is profiteering talaga and taking advantage,” he said.
He added that the landed cost of imported rice is about P35 per kilo, with a projected P10 margin for importers, traders, and retailers.
On the proposed P50 per kilo price cap for imported rice, Tiu Laurel said the DA submitted its report to the National Price Coordinating Council (NPCC) on Wednesday.
He said progress on the proposal is expected after Holy Week, from March 29 to April 5.
