Palay prices fall to lowest in 8 years

Palay prices have fallen to their lowest in eight years due to the implementation of the Rice Tarrification Law, according to a report by Cedric Castillo on State of the Nation with Jessica Soho on Monday.

Data from the Philippine Statistics Authority on October 25 show that farmgate prices were at P15.35 per kilo across the country, 27% lower than the farmgate prices during the same period last year.

The Department of Agriculture (DA) said that in some areas, palay sells for as low as over P10 per kilo.

However, some farmers speculate that prices are being manipulated because palay prices in a rice mill in Bulacan are much higher.

“Ang dating bentahan nito na P17 kada kilo at naging P17.50 hanggang P18 na ang presyo ng bawat kilo. Nang pumasok pa ang buwan ng Nobyembre ay tumaas pa ito at naging P18.50 hanggang P19.50 per kilo,” said rice miller Glenda Tenorio.

The DA allayed such concerns.

“[Ang] rule of thumb, kung magkano ‘yung presyo ng bigas, divided by 2, ‘yun ‘yung presyo ng palay. Nasa retailer na rin ang ganun,” said DA Rice Program consultant Valentino Perdido.

Meanwhile, farmers said the Rice Tarrification Law is only helping consumers but not producers. 

The law has significantly increased the supply of imported rice.

“Ang hinihiling lang namin talaga sa gobyerno, magtulungan ang magsasaka at ang gobyerno kasi ang inaani namin ay pagkain ng Pilipino,” farmer Ricardo Lazaro said. —Julia Mari Ornedo/LDF, GMA News