DA: Over 101K MT imported rice arrives in PH under lowered tariffs
2024-Aug-02 10:00
STABLE SUPPLY. Rice prices are displayed at a rice retail store in San Andres, Manila on May 6, 2024. The Department of Agriculture (DA) on Thursday (Aug. 1) assured a stable supply of rice in the country following the arrival of imported rice under the lowered tariffs. (PNA/Yancy Lim)
MANILA – The Department of Agriculture (DA) reported Thursday the arrival of more than 101,000 metric tons (MT) of imported rice as of July 25.
The said volume arrived following the implementation of Executive Order No. 62, or the lowering of tariffs on imported rice from 35 to 15 percent last July 5, which is expected to lower rice retail prices by P6 to P7 per kilogram.
"Overall, from January to third week ng (of) July, nasa (it's at) 2.4 million metric tons, which is higher than the level of the same period last year," DA Assistant Secretary Arnel de Mesa said in an ambush interview citing import data of the Bureau of Plant Industry (BPI).
De Mesa said the entry of said volume further sustains a stable supply of the country's staple, alongside the local palay production during the dry harvest season.
According to the Philippine Statistics Authority (PSA), the Philippines has recorded more than 8.53 million MT for the first semester of the year.
De Mesa, likewise, mentioned the National Food Authority (NFA)'s strong procurement for the country's national rice buffer stock, securing 3.5 million bags of palay during the dry harvest season.
He said these bolsters confidence in the country's rice inventory despite the effects of the enhanced southwest monsoon, Super Typhoon Carina, and the looming La Nina.
To date, the rice sector incurred around 10,639 MT of volume loss amounting to P635.17 million, which is well within the 500,000 MT to 600,000 MT annual projected losses due to natural calamities.
The DA has also assured that there's no reason for rice retail price hikes considering a stable supply in the country.
As of July 31, the prevailing price range of local regular-milled rice in Metro Manila is set at P45/kg to P50/kg, while the local well-milled rice is set at P48/kg to P55/kg, according to the DA-Bantay Presyo.
For imported regular-milled rice, the price range is pegged at P47/kg to P48/kg, and P51/kg to P53/kg for imported well-milled rice. (PNA)