Rice prices now stable – party list

MANILA, Philippines - Rice prices have stabilized nationwide with the start of the harvest season in Luzon, Abono party-list chairman Rosendo So said yesterday.

According to So, stabilizing prices dispel speculations of the lack of ample supply of rice in the country as well as warnings from the National Economic Development Authority of a possible food crisis.

“The price has now stabilized at P32 per kilo with the starts of harvests from La Union, Pangasinan, Isabela, Tarlac and Nueva Ecija, among others. The price of palay has gone back to P17 to P18 per kilo,” the Abono party-list official said in a statement.

“There is sufficient supply and prices are stable. There is no shortage,” So assured.

He warned though that some smugglers might try to create an artificial shortage to justify the presence of illegally imported grain in the market.

So said the country’s rice production can meet the domestic supply demands as palay harvests are expected to continue until February next year.

“We strongly disagree with the NEDA position that there is a rice shortage supply, and that the country needs to import 500,000 metric tons to meet the country’s requirements. Their figures are not correct,” he said.

He said that NEDA’s claims are not true because local harvest and production can sufficiently meet the country’s rice requirement.

Rice industry stakeholders such as Fertilizer Industry Association of the Philippines president Robert Castro, Region I Confederation of Irrigators Association president Oftociano Manalo, and Philippine Confederation of Grains Associations’ Herculano Co have also assured the public of ample supply.

So called on the National Food Authority to buy more rice from the countryside to ensure adequate stock during the lean season.

“The NFA should build up its stocks this harvest season. Having adequate stocks on hand will help prevent rice price spikes during the planting season,” he said.

Earlier, Agriculture Secretary Proceso Alcala urged consumers not to panic because the country has enough supply of rice.

In Isabela, farmers are projected to reap more than 167,700 metric tons this month, while the entire Cagayan Valley region is expected to harvest 264,700 metric tons of palay.

“Now that the harvest season has started, we are positive that the price of rice will return to normal,” Alcala said.

For his part, NFA administrator Orlan Calayag said the current rice inventory is bigger this year compared to the same period last year.

“We don’t foresee any shortage,” Calayag said, noting that the NFA has a carryover of two million metric tons of rice from last year.

Alcala has already sought the assistance of Congress to consider drafting legislation that would penalize individuals and groups who disseminate erroneous information to create panic.

He said misinformation can cause prices to shoot up, with racketeers earning huge profit at the expense of the general public.