Agri group warns of possible P2-P4 rise in rice prices, urges importation

Rice importation is necessary to secure supplies as prices might increase by a further P2 to P4 per kilo, the Philippine Chamber of Agriculture and Food Inc. (PCAFI) said Saturday.

"[Sa Vietnam] Nasa $540 na per metric ton, it's about P30-P32 per kilo. Dati, any part of the year, nasa $420 lang, nasa $440, about P23 to P24,” said PCAFI President Danilo Fausto in a dzBB Super Radyo interview.

He said the Philippines should negotiate directly with other countries to secure its rice supply.

"Siguro, as ASEAN, kaibigan naman natin 'yan (Vietnam), the President can intervene, and even government-to-government can do that and be able to get the supply," Fausto said.

The Department of Agriculture, however, said the government is not allowed to import unless there's a shortage.

Meanwhile, according to a "24 Oras Weekend" report by Bernadette Reyes, the cheapest rice in the Trabajo market is at P42 per kilo.

Currently, the price of local well-milled rice is up to P49, while imported well-milled rice is P46.

Based on the United Nations Food and Administration Organization Rice Price Index, rice prices have reached a 12-year high due to tight supply and high prices in some rice exporting countries such as Vietnam.

Aside from rice, fish prices increased in some markets following the rainy season.

Based on the latest DA monitoring, the price of bangus is at P240 per kilo, tilapia at P160, and galunggong at P280.

According to the Bureau of Fisheries and Aquatic Resources, bad weather had caused over P630 million in damage to the fishery sector.

The government had allocated P21.9 million for the repair of damaged boats and equipment, while also planning to supply fish farmers with additional fingerlings. — Sherylin Untalan/DVM, GMA Integrated News