RP has enough rice stocks despite El Niño — NFA

The Philippines has enough rice supply to last a few months despite the threat of prolonged drought brought by the El Niño weather pattern this year, the the National Food Authority (NFA) said on Thursday. But NFA Spokesman Rex Estoperez’s assurance was dampened by reports that dealers, whom the agency has warned of punishments, have been raised rice prices. “Maraming bigas ang NFA, 997,000 metric tons nasa bodega natin ngayon. Meron tayong kinontratang 1.8 million metric tons na mula February hanggang May ang delivery (The NFA has enough rice. We presently have 997,000 metric tons in our warehouses and we have contracted 1.8 million metric tons for delivery from February to May)," Estoperez said in an interview on dzBB radio.

The 997,000 metric tons are equivalent to 28 days of supply, if the NFA were to meet the country’s requirements of 36,300 metric tons a day. He also noted that while prices of commercial rice have gone up slightly, NFA rice continues to be sold at P25 per kilo. “Consumers should not worry or panic. If they do, the only ones who will be happy are the hoarders and profiteers," he said in Filipino. The Philippine Atmospheric Geophysical and Astronomical Services Administration (Pagasa) earlier said El Niño, a weather phenomenon characterized by dry spells, may peak in February. Pagasa added that Capiz province would be hit hard by drought, while areas that may have dry spells include Northern Samar, Mindoro, Batangas, Romblon, Masbate and Aklan. Estoperez said the NFA would not raise its prices. He even warned some traders against hoarding rice stocks since this would fuel speculations of “temporary shortage." “Hoarders should be warned of raids from government teams. They should not do that," he said. — LBG/NPA, GMANews.TV