Various government interventions under President Ferdinand R. Marcos Jr. have been crucial in the gradual stabilization of “extraordinary” spikes in rice prices in the country, the Department of Agriculture (DA) said Wednesday.
This came after the Philippine Statistics Authority (PSA) reported a -2.3 percent deflation in rice in January, a significant drop from 0.08 percent in December 2024.
In a press conference, DA spokesperson Assistant Secretary Arnel De Mesa said the spiking trend, which went beyond the administration’s 4 percent target rice inflation from July 2023 to November 2024, has slowly been tamed.
“From this trend, iyong epekto ng (the effect of) tariff reduction beginning July, it caused dahan-dahan na pagbaba, but iyong pagbaba niya hindi ganun kabilis kumpara doon sa itinaas (gradual reduction, but the decline was not as fast as its increase). That’s why mayroon pa rin tayong declaration ng (we still have the declaration of) food security emergency,” he said, referring to tariff reduction from 35 percent to 15 percent on imported rice.
De Mesa noted that from more than 20 percent rice inflation levels from January to July last year, the tariff reduction helped ease the staple’s prices, down to 14.7 percent in August 2024; 5.7 percent in September; 9.6 percent in October; and 5.1 percent in November.
He likewise said the government target of PHP6 per kg. to PHP7 per kg. lowering of rice prices was already monitored based on the DA’s price watch.
“We can say na na-reach na iyong (that we have reached the) PHP6 to PHP7. From the level iyong peak na sobrang taas ng bigas noong (peak level that is very high in) 2023 to now, there’s a noticeable reduction,” he said.
The peak rice inflation was reported in March 2024 at 24 percent, with the price per kg. of imported regular-milled rice ranging from PHP48 to PHP51.; imported well-milled rice, from PHP52 to PHP54; and imported premium rice, from PHP52 to PHP65.
Local regular-milled, well-milled, and premium, meanwhile, hit peak prices of PHP50 per kg., PHP58 per kg., and PHP61 per kg., respectively.
Besides the lowering of tariffs on imported rice, he highlighted the positive effects of the Kadiwa ng Pangulo (KNP) Rice for All and P29 programs, as well as the setting of the maximum suggested retail price (MSRP) for 5 percent on broken imported rice.
De Mesa, meanwhile, expressed optimism that all government interventions would further ease inflation in the coming months.
“Of course, iyong paglalatag pa rin natin ng MSRP, paglalatag natin nitong declaration na maglalabas ng stocks ng (the setting of MSRP, the setting of declaration on releasing the stocks of the) National Food Authority, initially 150,000 metric tons at PHP35 per kg. will play significant contribution to further easing iyong price ng (the price of) rice,” he said.
Earlier, the DA said it targets to influence the local markets in bringing down rice prices closer to the PHP41 per kg. to PHP45 per kg level under the food security emergency.
As of Tuesday, the price per kg. ranged from PHP38 to PHP58 for imported regular-milled rice to imported premium in Metro Manila; and PHP37 to PHP58 for local regular-milled to local premium, according to the DA-Bantay Presyo. (PNA)
