MANILA, Philippines — The price of locally milled rice should not exceed P48 per kilo, Department of Agriculture (DA) spokesman Arnel de Mesa said on Tuesday.
This comes following concerns that rice prices may increase, with de Mesa pointing it to the uptick in farm gate prices.
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“Pag panahon kasi na patapos na yung anihan, natural na magsisimula tumaas yung farm gate price,” De Mesa said in an interview with Radyo 630.
(When the harvest season is nearing its end, it is natural for the farm gate prices to start increasing.)
As of November 1, Samahang Industriya ng Agrikultura said that the farm gate price of palay reached P31 per kilo.
However, De Mesa said there is no need to worry about this as a potential price increase is unlikely due to the rice stockpiles acquired during the low farm gate prices.
“Hanggat mayroon tayong stock, dapat hindi lalampas ng P48," he said. (As long as we have stock, the price should not exceed P48)
In the latest price watch of DA, local regular milled rice is at P42.9 per kilo while the well-milled rice is at P47.12 per kilo.
On November 9, the Philippine Rice Institute said that the Philippines wastes P7.2 billion worth of rice yearly.