DA: PH has enough rice supply till early 2024

FILE: Local and imported rice retail for PHP46 and PHP42 per kilo, respectively, at a store inside the San Andres Market in Manila on Monday (June 26, 2023). (PNA photo by Yancy Lim)

MANILA – An official of the Department of Agriculture (DA) on Friday assured that the country has enough supply of rice until early next year.

Speaking at the Bagong Pilipinas Ngayon briefing, Agriculture Assistant Secretary Arnel de Mesa said the rice harvest season in the country has already started.

“The good thing is our farmers continue to harvest and we expect this October to harvest the most during the wet season; and because of this, our national inventory stocks can hit up to 77 days this month of October,” de Mesa said.

“And in the month of November at the end of the harvest for the wet season, we expect it to last 94 days; and imports are not included yet, so we can expect that our national inventory of rice is good and sufficient,” he added.

De Mesa also noted that they are not expecting any spike in the prices of rice.

He added that the country’s rice supply would be augmented with the arrival of imports in September.

“It hit over 271,000 metric tons and historically there are still a lot of imports coming in during the last quarter part of the year,” he added.

Meanwhile, de Mesa said President Ferdinand R. Marcos Jr. has approved the Rice Farmers Financial Assistance program with a budget of PHP12.7 billion.

The beneficiaries are farmers who are tilling two hectares of land and below and will receive PHP5,000.

“In addition, free seeds have already been distributed – high-yielding varieties both inbred and hybrid, fertilizers, machinery to ensure that our farmers are ready for the dry season beginning October/November throughout the country,” de Mesa said.