No rice price hike expected until start of 2024 — DA

MANILA, Philippines — The Department of Agriculture sees no possible rice price hike until early 2024, its Assistant Secretary Arnel de Mesa said.

According to de Mesa, there are no signs of an increase in rice prices as the country’s supply of regular and well-milled rice is currently enough.

“Mataas, o bumper ‘yung ating harvest ngayong wet season, magmula po noong katapusan ng Agosto, ngayong Setyembre, hanggang Oktubre, hanggang sa Nobyembre po, wala po tayong inaasahan na pagsipa pa ng presyo [ng bigas],” he said in the Bagong Pilipinas Ngayon public briefing on Friday.

(Our harvest during this wet season is high. From the end of August, this September, until October to November, we do not expect a further increase in the price of rice.)

De Mesa also cited that the incoming additional rice imports, which are still expected to be many during the last quarter of the year, would further stabilize the supply.

“Maasahan po natin na talagang sapat at maganda at matatag po ang supply ng bigas natin – na maaasahan po natin na hanggang sa pagpasok po ng susunod na taon na 2024,” he affirmed.

(We can expect that our rice will indeed be sufficient, good, and stable — something we can rely on until the beginning of the year 2024.)

The country continuously produces rice, and most harvests in the wet season are expected to be yielded this October, the Assistant Secretary noted.

“Inaasahan po natin na ngayong Oktubre ang pinakamadami na maha-harvest po ngayong panahon ng wet season. Dahil po dito, pwedeng pumalo ang national inventory stocks hanggang 77 days ngayong buwan ng Oktubre, at sa buwan po ng Nobyembre, sa katapusan ng pag-aani para sa wet season, asahan po natin na papalo po ito ng 94 days,” de Mesa shared.

(We expect the most plentiful harvest during this wet season will be yielded this October. Because of this, the national inventory stocks may reach up to 77 days this October, then 94 days by November, during the end of harvest for the wet season.)

“Wala pa po dito yung [rice] imports, so maaasahan po natin na maganda at malaki po yung national inventory natin ng bigas,” he added.

(Rice imports are not yet included there, so we can expect that our national rice inventory is abundant and good.)

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