Rice sold at P38/kilo at Kadiwa stores

MANILA, Philippines — A rice traders’ group will sell rice at P38 per kilo in Kadiwa stores amid the upward trend in the retail price of rice.

“We are coordinating with the (Department of Agriculture) regarding this (sale of P38 per kilo of rice in Kadiwa) since we need proper coordination, but we never stopped in our efforts to sell P38 per kilo in certain areas in Metro Manila,” Philippine Rice Industry Stakeholders Movement lead convenor Rowena Sadicon said in a radio interview yesterday.

“The increase in the retail price of rice is because of the export ban of India. This is an outside factor that we cannot really control,” she added, denying that the spike in the retail price of rice was caused by hoarding and price manipulation.

Sadicon noted that rice traders are providing subsidies to ensure they can maintain selling rice at P38.

The retail price of rice will go down once the peak of the palay harvest begins, she added.

“By late September, October, the local harvest will come in and that’s the time the retail prices will start to go down,” Sadicon said.

Meanwhile, at least P22 billion was collected from the Rice Tariffication Law in 2022, according to farmers’ group Samahang Industriya ng Agrikultura (Sinag).

“The P10 billion will go automatic to various government agencies, including P5 billion for Philippine Center for Postharvest Development and Mechanization; Philippine Rice Research Institute, P3 billion; P1 billion to Land Bank of the Philippines; Technical Education and Skills Development Authority, P1 billion. The extra P12 billion will be distributed to farmers owning less than two hectares of land,” said Sinag chairman Rosendo So.

Farmers are entitled to P5,000 cash assistance under the Rice Competitiveness Enhancement Fund, So noted.

“We are asking the DA to give the money to our farmers now so that they can use it,” he said.