NFA: Rice prices to go up during lean months

MANILA, Philippines – Prices of commercial rice are expected to go up by P1 to P2 per kilo, as the Philippines enters the lean months of June to August.

But the National Food Authority (NFA) on Saturday, June 14, assured the public the prices would normalize by September, when harvest begins.

Currently, regular milled rice is at P40/kilo, while well-milled rice is at P42/kilo.

NFA public affairs director Rex Estoperez said prices normally go up during the lean months.

However, he said the agency would study the need to augment rice supply, depending on the effects of the El Niño phenomenon on this year’s harvest.

In a press briefing on Sunday, June 15, Presidential Communications Secretary Herminio Coloma Jr attributed the price increase to market forces.

He also said the NFA and the Department of Agriculture were monitoring the situation.

“According to the NFA and the agriculture department, once the harvest season arrives, the country’s supply of rice will increase and there will be a corresponding adjustment to the prices,” Coloma said.

“The Department of Agriculture is closely monitoring the situation, as well as the price changes in ginger, garlic, and other everyday cooking commodities,” he added. – Rappler.com