Kiko Pangilinan says rice prices stabilizing
SAN MANUEL, Pangasinan—Rice prices nationwide have begun to stabilize, according to de facto agriculture secretary Francis “Kiko” Pangilinan.
“We are importing about 500,000 metric tons [of rice] and these will arrive in the first week of September, which will also be the end of the lean months,” Pangilinan said after he inaugurated a P4.3-billion reregulating pond here for irrigation purposes.
He said the arrival of imported rice would loosen up the tight rice supply situation and stabilize prices.
“Prices of rice increase because there’s not enough supply,” he said, adding that once the harvest season begins, there will be more supply and rice prices would drop.
He said three-fourths of rice harvests come during the last quarter of the year.
Pangilinan also said the National Food Authority had intensified its campaign against rice hoarders and erring NFA employees. Gabriel Cardinoza, Inquirer Northern Luzon
