DA bucks reimposition of rice price cap

MANILA, Philippines — The Department of Agriculture (DA) has shut down the possibility of reimposing the rice price cap next month after a farmers’ group asked President Marcos to implement the price ceiling anew to prevent an “artificial rice price crisis” toward the end of the year.

“No, the price cap should really be a short-term one... There are probably other measures that we can already do,” DA Undersecretary for policy, planning and regulations Mercedita Sombilla said in an interview with reporters on the sidelines of the 6th International Rice Congress yesterday.

Farmers’ group Samahang Industriya ng Agrikultura (SINAG) yesterday said that Marcos should reimpose the price ceiling in November “to preempt new attempts to artificially increase the retail price of rice.”

“We are all worried of a possible repeat of the rice price spikes last August where traders tried to justify the increase in rice prices because of the high farmgate prices of palay,” SINAG chairman Rosendo So said in a statement.

“We are also aware that a scenario of increasing rice prices (is) being timed with the fresh proposal to reduce the tariffs on imported rice, corn and pork,” he added.

Instead of imposing a price ceiling, the Federation of Free Farmers (FFF) suggested the government should focus on monitoring stocks, prices, hoarding and price manipulation and providing alternative marketing outlets that will keep other traders “honest.”

The Philippines received the highest rice export allocation from India with 295,000 metric tons of non-basmati white rice.

Among the countries importing from India, the Philippines has become its largest rice importer.

“Request made at the leadership level and the positive decision reflects the growing confidence in the bilateral relationship,” the Indian embassy in Manila said in a statement.

Six other countries set to receive the export of around 1.034 million MT of rice are Cameroon (190,000 MT), Malaysia (170,000 MT), Cote d’Ivoire and Republic of Guinea (142,000 MT each), Nepal (95,000 MT) and Seychelles (800 MT).

FFF expressed concern over the price of India’s rice exports.

“In the past, our local importers have not secured rice from India