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Laurel: Cheaper rice expected by October

Vivienne Angeles

Agriculture Secretary Francisco Tiu Laurel Jr. said on Monday that consumers may have to wait until mid-October for cheaper rice to be sold in markets, following the anticipated impact of a lower import tariff on the staple grain.

Speaking at a forum hosted by the Makati Business Club Inc. in Taguig City, Laurel noted that over 100,000 metric tons (MT) of imported rice arrived in June, over 140,000 MT in July, and over 380,000 MT in August.

“But you can imagine that from January to June, almost 400,000 tons of rice came in. However, our monthly consumption is only 320,000 MT,” he said, adding that from January to June, there was an excess of about 80,000 MT per month for buffer stocking.

President Ferdinand Marcos Jr. issued Executive Order (EO) 62 in June, which modified the nomenclature and tariff rates on various products to ensure the continuous supply of goods and protect the Filipino people’s purchasing power.

Under this order, the levy for imported rice is expected to decrease by P6 to P7. EO 62 took effect in July.

Laurel explained that for two months — August and September — older rice stocks were still being sold at higher prices.

“So I would expect the price to go down by mid-October, based on the new shipments that have arrived,” Laurel said.

As of September, the agriculture chief said only about 60,000 MT of rice had arrived.

“We’re already in mid-September. So that’s a problem. There’s no shortage, but the price might not go down that soon,” he said.

According to Laurel, one factor contributing to the slow arrival of imported rice is congestion at the ports.

“There are delays. Port congestion. Unloading is slow. There are 20 ships in Bataan waiting to be unloaded. Ships are also waiting in Subic, Manila and Batangas,” he said.

Laurel added that an updated forecast for this year’s rice supply would be available by the end of the month.

Multisectoral efforts

Meanwhile, Laurel highlighted government initiatives to modernize the local farming sector, including strengthening collaboration with the private sector.

“This summit is a timely and essential platform for dialogue between the government and the private sector. It is an opportunity to exchange ideas, forge partnerships, and develop strategies to ensure food security in the country,” he said.

“Over the past few years, the Department of Agriculture has been steadfast in its efforts to enhance food production and ensure food security for all Filipinos,” he added.

To encourage the involvement of agriculture stakeholders, the DA will form consultative councils that will meet monthly to craft policy and program directions.

Laurel noted that global food losses amounted to 14 percent between harvest and retail, while an additional 17 percent was lost due to food waste at later stages.

In the Philippines, post-harvest losses for key crops can reach as high as 40 percent, largely due to outdated infrastructure and inefficiencies.