Marcos tasks DA, DTI to monitor rice prices in local markets

President Ferdinand "Bongbong" Marcos Jr. on Wednesday tasked the Department of Agriculture (DA) and the Department of Trade and Industry (DTI) to closely monitor the rice prices in the local markets as he ensured that rice supply is sufficient.

Quoting the President, the Presidential Communications Office said: "Rice supply is sufficient. Prices are, however, very variable."

"The government is working with the private sector to rationalize the prices and make available affordable rice in the market and in Kadiwa,” the PCO said.

The PCO said that the DA already reported that retailers are selling rice at different price points, with some selling rice at P38-P40 per kilo while others sell  at P50 per kilo.

According to the DA price monitoring, well-milled local commercial rice is sold at P42 to P52 per kilo in markets in Metro Manila.

Meanwhile, regular milled local commercial rice is being sold at P38 to P50 per kilo.

The Marcos administration vowed to go after hoarders and price manipulators of rice who take advantage of the lean months before harvest season. 

Importation

Early this month, DA Undersecretary Mercedita Sombilla also mentioned that the agency was eyeing to import another 1.3 million metric tons of rice.

"Mayroon kaming ini-schedule. We will be scheduling the importation. We have already, you know… remember nasa sanitary, phytosanitary, hindi ba. We have already something like 1.3 volume of applications that are already pending there," Sombilla said during a press briefing early August.

(We are scheduling it. We will be scheduling the importation. We have already, you know... remember the sanitary, phytosanitary [permits are being processed].

"So, what we are going to be doing is to really encourage the private sector to get this [unclear] ‘no. I think the President will really have to do some discussions/consultations with the private sector so that, you know, for them to help us. I think we really need the help of the private sector in situations like these," she added.

The Philippine Rice Industry Stakeholders Movement (PRiSM), meanwhile,  earlier said that about 300,000 MT of rice is scheduled to arrive this month and in September.

"We assured the President that at least 300,000 metric tons is coming in this August and mayroon din sa September. I am not sure [kung gaano karami ang darating sa September] But they said, mga 300,000 ang darating. August-September na 'yun,” said Rowena Sadicon, PRiSM Founder and Lead Convenor.

However, PRISM was not sure if this would lower rice prices.

"Yun ang challenge talaga, ang presyo. Dahil nag shoot ang presyo sa world market. Ang India kasi, nag export ban sila. Forty percent ng supply ng buong mundo, nanggagaling sa India," Sadicon explained.

Further, DA Senior Undersecretary Domingo Panganiban said the agency opened talks with Vietnam and India regarding rice importation. 

As a result of continuing talks, Panganiban said "some Vietnamese exporters have quoted our private traders $30-$40 lower since our [last] meeting in Malacañang."

"The DA will also work with the government of India to allow imports on humanitarian grounds," the DA official said.

Panganiban said the talks "will hopefully pave the way for the country to get better terms for the additional 300,000 to 500,000 metric tons of rice importation for this year." — RSJ, GMA Integrated News