MANILA – The Department of Agriculture (DA) on Friday assured efforts to balance the affordability of agricultural goods in local markets alongside the profitability of Filipino farmers amid recent spikes in rice and onion prices.
“Our goal is to strike a balance to ensure farmers recover their costs, while consumers can access rice and onions at reasonable prices,” DA Secretary Francisco Tiu Laurel Jr. said in a statement.
“The government is actively managing the situation to stabilize the market.”
For rice, the DA chief said they are now accelerating the nationwide expansion of the PHP20 per kg. rice program under the “Benteng Bigas, Meron (BBM) Na” to ease supply pressures.
“This is a critical measure to balance production costs and consumer affordability,” he said.
The BBM Na benefits both consumers and local rice producers with affordable prices and direct support through palay (unhusked rice) procurement under the National Food Authority (NFA).
According to the DA Bantay Presyo (Price Watch), premium imported rice in Metro Manila sells from PHP52 per kg. to PHP62 per kg. as of Thursday.
The price per kg. of imported well-milled rice, meanwhile, ranges from PHP43 to PHP49; and imported regular-milled rice, from PHP36 to PHP46.
Local premium rice is at PHP43 per kg. to PHP60 per kg.; while the prevailing prices for well-milled rice and regular milled rice are PHP45 per kg. and PHP40 per kg., respectively.
Hikes in rice prices were attributed to supply fluctuations and logistical challenges due to the recent delay in import arrivals last January, according to market analysts.
Tiu Laurel projected rice prices to be tamed by mid-March with the onset of the local palay harvest season and the arrival of imported rice.
Onion farmers in Nueva Ecija, meanwhile, said imported onions influenced the low farmgate prices of local onions.
However, inspections of cold storage facilities showed limited stocks of imported onions, suggesting other market factors are at play.
The DA is now evaluating policy measures to lift onion farmgate prices before local production peaks in March and April.
Careful monitoring and timely interventions, Tiu Laurel said, will be key in ensuring that both farmers and consumers benefit in the weeks ahead. (PNA)