Marcos says Philippines still open to importing rice
MANILA, Philippines — President Ferdinand Marcos Jr. said Wednesday that while he does not foresee a looming rice crisis, importing the staple remains an option to address potential supply problems brought about by the El Niño phenomenon forecast to occur between the third quarter of 2023 until 2024.
“We may have to import. So we’re keeping that option open,” Marcos told reporters in a chance interview at the sidelines of an event in Bulacan.
The president, concurrently agriculture chief, assured that there is enough supply to keep rice prices stable.
But he added that the typhoons and COVID-19 lockdowns have depleted the buffer stock of the National Food Authority.
Marcos said the government is now figuring out how to replenish the NFA buffer stock while still complying with the law that mandates the agency to buy from local rice producers, which he said may cause prices to shoot up if this happens during harvest season.
Just two days ago, a Department of Agriculture undersecretary announced that the NFA has dropped plans to import 330,000 metric tons of rice. Farmers’ groups criticized the importation plan who said the government was prioritizing foreign rice producers.
A study by the DA – National Rice Program estimated that the ending stock of palay for the first quarter of 2023—about 5.66 million metric tons—is good for 51 days.
Farmgate prices for dry palay on April 3 increased to P21.07 per kilo compared to last month’s P19.23, according to the DA.
A smaller price increase was observed for fresh palay, which went from P17.29 per kilo to P17.98.
While the dry season provides “better conditions for drying newly harvested palay,” the DA said that prices might go up depending on “any situational changes—for instance, the added value due to the high quality of dry palay.” — Xave Gregorio with a report from Cristina Chi
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