No rice price drop seen in next 2 months — DA

(INQUIRER FILE PHOTO / GRIG C. MONTEGRANDE)

MANILA, Philippines — Do not expect the price of rice to drop within the next two months,  Agriculture Secretary Jose Tiu Laurel Jr. said on Thursday.

Speaking at the Bagong Pilipinas Ngayon public briefing, Laurel said it is difficult to estimate how much rice would cost in the coming months due to India’s export ban.

“Ang problema sa rice industry of the world, while bumaba na nang kaunti ang presyo world market price ng bigas iyong bansang India ay mayroon pa rin silang export ban sa mundo ng bigas. So, until itong export ban nila is ma-lift, I think prices should not get dropped considerably,” said Laurel.

(The problem with the world rice industry is that while rice’s world market prices have decreased a bit, India is still imposing an export ban. So until this ban is lifted, I think prices should not drop considerably.)

Laurel said that while the harvest season is ongoing, rice traders are buying palay at high prices.

“I don’t expect na bumaba kaagad ang presyo ng bigas until June or July this year,” said Laurel.

(I don’t expect that prices of rice will go down until June or July this year.)

From March 25 to 27, the price of rice ranges from P49.60 to P60.38 per kilo, according to the Department of Agriculture’s price monitor.