Rice price, supply steady despite typhoon, oil price hike

The government has a sufficient inventory of rice especially in the typhoon-affected regions to supply the needs of consumers and forestall unwarranted rice price manipulations.

The price of government rice will also remain at the present P16 per kilogram level, which is still affordable to ordinary consumers despite the steep gasoline price increases.

These are the assurances given by Agriculture Undersecretary for Luzon Operations and National Food Authority administrator Arthur C. Yap, citing that NFA has sufficient inventory brought about by its extensive buying of the summer harvest complemented by the rice imports which started arriving since last month.

During the last four months, NFA’s procurement reached 1.55 million bags, equivalent to 58 percent of the targeted 2.63 million bags, said Yap.

The rice import arrivals, meanwhile, have already brought in 338,123 metric tons out of the contracted quantity of 577,817 MT.

Palay procurement and rice import arrivals have effectively contributed to the NFA’s bringing to the present stock level of 594,862 MT or 11.89 million bags its stock inventory, a relatively comfortable position as far as supplying the country’s rice requirements is concerned.

"The NFA stock accounts for 26 percent of the national total, good to last until the first week of September this year based on our operational distribution target," said Yap. "This is also equivalent to 22 days food security stocks or one week higher than the mandated volume the NFA must have at its warehouses at any given time," he added.

The country’s rice inventory, on the other hand, is placed at around 2.3 million tons, sufficient to last for 85 days based on the average daily rice requirement of 27,000 tons.

Yap also said he has ordered the agency’s field offices to strengthen the agency’s monitoring teams to keep track of rice price and supply situation in markets especially in the typhoon-affected regions.

He also pointed out that under the NFA’s Disaster Preparedness Program, the Office of Civil Defense (OCD), Department of Social Welfare and Development (DSWD), Philippine National Red Cross (PNRC), local government units (LGUs) and other agencies directly involved in disaster operations can purchase rice on credit from NFA for relief purposes.

The NFA, he noted, is closely coordinating with other concerned relief agencies on the extent of damage brought about by Typhoon Dindo.

The central office, however, has yet to receive reports of rice withdrawals for relief purposes.

For comments, suggestions, queries and complaints on rice supply and price, send in text messages through mobile number 0917-6210927.