No rice shortage — Piñol

Agriculture Secretary Emmanuel Piñol denied on Friday that there is an occurring rice shortage in the country following reports of hoarding.

“We have to believe what stakeholders say,” Piñol said, adding that they know the consequences of hoarding which are imprisonment and confiscation of stocks.

Piñol assured that while rice supply is currently tight, imported rice is already on its way.

He said rice imports, which supposedly arrive during the lean season, were delayed due to bad weather and ship congestion.

He reiterated that there is enough rice at the moment.

In a briefing led by the Department of Agriculture (DA) following a meeting with stakeholders, Piñol told reporters that there is an adequate buffer stock of rice, which can last for about 45 days.

It was disclosed in the briefing that due to the National Food Authority’s failure to refill its buffer stock in due time, the buying price of palay reached P29, which so far is the highest.

Nevertheless, Piñol said consumers can expect the price to stabilize by the end of September as harvest season starts by middle of the same month, as well as the arrival of the imported rice.

In addition, president of Isabela Rice Millers Association Ernesto Subia said consumers can expect a P3 markdown on regular milled rice in the local markets. He also said prices will be steady until the end of September as there is no reason for the price to rise.

The DA and rice stakeholders ended with an agreement that they will come up with a system to schedule the arrival of rice imports to prevent conflicts with the harvest time of local farmers.