Piñol ‘believes’ rice prices to stabilize in November

The price of rice will stabilize in the next two months as farmers start harvesting their crops, the Department of Agriculture (DA) said Monday.

Additional supply from the incoming harvest season will help stabilize prices in November, Agriculture Secretary Emmanuel Piñol said in a Senate hearing.

“Sa presyuhan, I believe that this will stabilize. Rice prices will stabilize by November this year, pero hindi na po bababa ng P40 (per kilo),” he said.

There are farmers who already harvesting their crops, the Cabinet official said, noting that the harvest season will end in October.

“I was just in Mindanao. The harvest is starting. Early harvest starts early September, and it would stretch into early October,” he said. —VDS, GMA News