Price price to drop to P36/kilo, says DA

Retail prices of local rice are seen to drop to at least P36 per kilogram before the end of October, an official of the Department of Agriculture (DA) said Thursday.

“In retail, the price will be PHP36 to PHP38 before the end of the month. It’s because it’s harvest season and we have many produce,” DA Senior Undersecretary Domingo Panganiban said in an interview on the sidelines of the opening of AgriLink, FoodLink & AquaLink 2023 at the World Trade Center in Pasay City.

Panganiban added the DA is still mulling over recommendations for a suggested retail price on rice, in relation to reports that the price of imported rice in the market is at P60 per kilo.

“We have none yet (recommendation), we’re still conducting study on that,” he said, noting this is “very expensive” as it should only be between “P38 to P40.”