October 4, 2023
MANILA – The Philippines will be able to harvest 1.9 million metric tons this month, Department of Agriculture-Bureau of Plant Industry (DA-BPI) Director Glenn Panganiban on Tuesday.
“For October, as I’ve mentioned, we are expecting almost 1.9 million metric tons of rice for this month, so that will jump our days to last or our supply of rice to 74 days,” said Panganiiban in a Palace briefing.
Last September, the beginning stock was recorded at 1.38 million metric tons, according to Panganiban’s report.
Panganiban added that together with the increased harvest, the price of rice has decreased in several areas. He, however, did not specify the areas with decreasing prices.
“The indicators point that there are decreasing prices observed in the market from our implementation starting last month until today, and then we are expecting an increased supply of our local harvest coming this last quarter – for October, November, and then the rest of the year,” said Panganiban.
President Ferdinand “Bongbong” Marcos Jr. has previously hinted at the possibility that the rice price cap may be lifted after the harvest season.