By Stephanie Sevillano | Philippine News AgencyThe price range of regular- and well-milled rice may drop at P45 to P48 per kilogram (kg) as the country approaches the peak harvest season, the Department of Agriculture (DA) said Wednesday.
Agriculture Assistant Secretary Arnel de Mesa said they are monitoring a decline in retail prices, although the prevailing price range is still at P49/kg to P50/kg in Metro Manila.
“Until-unti nang bumababa, nakakakita na tayo ng mga P40 plus level…posible iyan sa ganyang level. Tinitingnan naman natin na okay iyong harvest natin,” he said in a radio interview.
De Mesa said the El Niño phenomenon has minimal effects on the country’s harvest season, which is expected from March to April.
It has accounted for 14,000 hectares of damaged rice farms so far, or only 1.5 percent of the total area allotted for rice.
“Inaasahan natin hanggang 9.6 million metric tons (MT) ang ma-harvest natin ngayong dry season na ito,” de Mesa added.
Besides the yield supply, he cited the dwindling price of rice in the international market which is now at a US$570/MT level.
De Mesa also assured adequate import volumes following Laurel’s earlier talks with rice importers.
“Mas mataas ito kumpara the same period last year ng almost 40 percent. So malaki iyong imports, karamihan nito ay pumasok ng January,” he said.
To date, around 728,000MT of imported rice have entered the country.
