The lack of postharvest facilities could lead to a decline in rice prices in markets, according to Agriculture Secretary Francisco Tiu Laurel Jr. on Wednesday.
This comes as some farmers are expressing concern about grain prices possibly falling in anticipation of the harvest season and the arrival of imported rice.
Laurel stressed that prices would not decrease.
“As of now, I don’t think they will go down,” Laurel told reporters on the sidelines of an exhibit and music festival launching at the Department of Agriculture Central Office, Quezon City.
“The only reason our prices would go down is because we lack postharvest facilities. When it’s raining... the rice becomes wet; that’s where traders can take advantage of lowering their prices because they are the only ones who can dry it,” he added.
He further stated that the lack of postharvest facilities is the primary issue, not importation, as its volume is just enough to compensate for the shortage in local rice production.
“So there’s no excess; the price should remain stable,” Laurel said.