Cheaper rice seen in December amid lifting of India’s export ban - DA 

Consumers can expect cheaper rice in the market in December after India lifted its export ban, the Department of Agriculture (DA) said. 

According to Bernadette Reyes’ report on “24 Oras” on Wednesday, the lifting of the ban will lower the price of imported rice from India compared to those from Vietnam and Thailand. 

“Yung rice mapi-free up at dadami 'yung mate-trade sa buong mundo, at mas mura yung Indian rice din compared sa Vietnam,” said DA spokesperson Arnel de Mesa. “It can drive yung presyo ng international rice.” 

(More rice will be freed up and more stocks will be traded globally. Indian rice is actually cheaper than Vietnamese rice…This will drive the price of international rice.) 

Now that India lifted the ban since it was first implemented in July 2023, it will also help further slash the per kilogram price of rice as soon as the Executive Order No. 62 fully takes effect, which cuts the tariff on imported rice by 15%. 

“Dahan-dahan kasi imagine coming tayo from 55 naging 52, 50. Ngayon nakakita na tayo ng 42 hanggang 45 malaki na yon, very significant change na ‘yun sa drop ng presyo ng bigas. But we are still expecting na kaya pang bumaba,” said De Mesa. 

(We are taking things slowly because we came from P55 then P52, P50. We now have P45 to P42 per kilo, that’s already a significant drop in the price of rice. But we are still expecting that we can still further lower the price.) 

Further, the department assured that it would monitor agricultural products in ports to prevent spoilage. 

“Hindi talaga magkakaroon ng overstaying para maganda yung pasok at labas ng mga containers na may lamang agri commodities,” said De Mesa. 

(We will not allow overstaying so we can assure smooth entry and exit of containers with agricultural commodities.) 

More than 5,000 containers were already released, but nearly 300 others are still stuck in Manila South Harbor. 

Philippine Ports Authority General Manager Jay Santiago said that they already advised the terminal operator to endorse the remaining containers to the Bureau of Customs.—Vince Ferreras/LDF, GMA Integrated News