‘Lowest price of rice now P40 a kilo’
Credit to Author: Bella Cariaso| Date: Mon, 26 Jun 2023 00:00:00 +0800
MANILA, Philippines — A rice watchdog has reported that the lowest price of rice is currently P40 per kilo, far from the P20 per kilo that President Marcos promised in last year’s elections.
Bantay Bigas on Sunday said there has been a monthly increase in the retail price of rice since April, with the lowest price now P40 per kilo from the previous P38.
“We asked the retailers and they said the retail price is really increasing since April. The P38 (per kilo) was no longer available in Nepa Q-Mart (in Quezon City) and other markets we visited,” Bantay Bigas spokesperson Cathy Estavillo said in a radio interview.
She added that the government failed to address the spike in the retail price of grains despite traders buying palay at unreasonably low farmgate prices.
“The retail prices of rice are very high despite the palay harvest of our farmers being bought at unreasonable prices,” Estavillo said.
The Rice Liberalization Law, which caused the flooding of imported rice in the Philippines, also failed to bring down prices.
“This is a result of the passage of (Republic Act 11023), where the P27 and P32 (per kilo) subsidized by the National Food Authority were removed. The promise of economic managers, senators and congressmen (was) that the retail prices of rice will go down once the market will be opened to importation. The total importation last year reached 3.8 million metric tons,” Estavillo said.
She urged the government to scrap the Rice Liberalization Law and provide a P15,000 support subsidy to farmers.
“We hope that in the next State of the Nation Address of President Marcos, farmers will be able to hear clear programs on how to attain food security, and not just motherhood statements on Masagana 150 (National Rice Program),” Estavillo said.
Based on the monitoring of retail prices of well-milled rice, it is sold as high as P46 per kilo in Metro Manila markets.