PALACE ASSURES STABLE SUPPLY, PRICES OF RICE AS HARVEST SEASON STARTS

THE government will implement various measures to ensure rice prices remain stable once the 60-day import ban takes effect next week, Malacañang said on Wednesday.

Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro said in a press briefing that the Department of Agriculture (DA) will conduct price monitoring to enforce the maximum rice suggested retail price.

Aside from conducting weekly nationwide rice monitoring, Castro said the DA would also consult with stakeholders – including farmers, millers, and traders – to prevent rice price manipulation.

The Palace Press Officer assured the public of sufficient rice supply, particularly as the harvest season starts.

“Pa-start na nga rin po ang harvest season. So, with that, nakikita po natin na tama po ang supply ng bigas sa atin mula sa local farmers. So wala pong masyadong iniisip na magiging problema ang DA patungkol sa supply ng bigas,” Castro said.

President Ferdinand R. Marcos Jr. ordered a 60-day suspension of rice importation, effective September 1, in response to low prices for palay (unmilled rice).

The President’s order aims to protect local farmers reeling from low palay prices during this current harvest season.The DA reported that bumper rice harvests worldwide, the lifting of India’s rice export ban, and the Philippines’ record-high 9.08 million metric tons of palay produced in the first half of the year have put downward pressure on rice prices.