Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. on Wednesday said the deflation of rice prices in January reflects the effectiveness of the measures the Marcos administration has been implementing to stabilize the staple food prices in the country.
Tiu Laurel made this remark as the Philippine Statistics Authority (PSA) recorded that rice inflation in January was at minus 2.3 percent year-on-year, the lowest since June 2020’s minus 2.8 percent.
The deflation in rice prices in January was the first since the 0.1 percent decline in December 2021.
“This is welcome news. It clearly shows that the efforts of President Bongbong Marcos, particularly the sharp tariff reduction last year, are steps in the right direction,” Tiu Laurel said in a statement.
The PSA on Wednesday reported that inflation in February slowed down to 2.1 percent from 2.9 percent in January mainly due to the easing of rate of price increase on food and non-alcoholic beverages.
Rice alone had a sharper deflation of 4.9 percent, with prices decreasing since July 2024 due to easing international prices and tariff reduction.
In a media interview, DA spokesperson Assistant Secretary Arnel de Mesa said the rice prices have been dropping since December 2024.
“Bunga ito ng sama-samang programa ng DA. Andiyan iyong ating Rice for All, binaba natin iyong presyo mula pa noong PHP45 at ngayon nasa PHP35 na lang (This is the outcome of the combined programs of DA. There’s our Rice for All, wherein we dropped the price from PHP45 to only PHP35),” he said.
The Rice for All offers well-milled rice to the general public through the Kadiwa ng Pangulo (KNP) Centers and kiosks in select public markets.
“Pati na rin iyong paglalagay natin ng (Even the setting of) maximum suggested retail price para doon sa imported na bigas, tumulong din kasi wala na tayong nakikitang (for the imported rice, it also helped because we are no longer seeing) PHP60,” De Mesa added.
The MSRP for 5 percent broken rice is expected to drop to PHP45 per kilogram by the end of March; while the current price is set at PHP49/kg, much lower than the original PHP58/kg.
Before the MSRP implementation, the retail price for 5 percent broken rice was PHP62/kg to PHP64/kg.
De Mesa said the impact of the food security emergency declaration may be felt starting within the month.
“Wala pa siyang impact ngayon. Kung mararamdaman natin ang impact ng (It has no impact yet. If we are about to feel the impact of the) food security emergency, siguro ngayong March and still expect na magkakaroon pa ng (maybe this March and still expect that there will be) further reduction,” he said.
The food security emergency declaration allows the National Food Authority (NFA) to release its rice stocks to local government units (LGUs) through the Department of Agriculture (DA) and Food Terminal Incorporated (FTI) at PHP33/kg, which can be sold to consumers at PHP35/kg.
The NFA said San Juan, Navotas, and Camarines Sur province have so far secured procurement from the DA-FTI, while 70 LGUs have signified their intent to purchase NFA rice. (PNA)
