Philippines: DA sees rice prices going down from P44 to P46 a kilo

Market & Price Trends
Published Feb 22, 2024

Tridge summary

The Department of Agriculture in the Philippines anticipates a decrease in the price of well-milled rice to P44 to P46 per kilo in the coming weeks, due to a drop in international rice prices from $612 to $580 per metric ton. However, the Samahang Industriya sa Agrikultura (SINAG) predicts a slightly higher price range of P47 to P48 per kilo, factoring in the decrease in the price of local harvest of unmilled rice from P26 to P24.
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Original content

The price of well-milled rice is expected to go down to P44 to P46 a kilo in the coming weeks following the decrease of rice prices in the international market, an official of the Department of Agriculture said on Wednesday. The Samahang Industriya sa Agrikultura (SINAG) also observed the price drop abroad, saying the price per metric ton of the Filipinos' staple food went down from $612 to $580. "Hopefully, patuloy na bumaba yung presyo sa international market and it will have an impact doon sa parating na imported rice," De Mesa said. "Babalik 'yan sa range na P44 hanggang P46 na presyo ng well-milled rice," he added. (Hopefully, the price of rice in the international market will go down and it will have an impact in the price of imported rice that will arrive. Well-milled rice will go back to the range of P44 to P46.) SINAG chairman Rosendo So has a higher estimate as regards the price of rice in the coming weeks. "'Yung ...
Source: Gmanetwork
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