MANILAz25, Philippines — The Department of Agriculture (DA) is optimistic that rice inflation will continue to go down with lower tariffs on imports and the affordable rice programs of the government.
Agriculture Assistant Secretary and spokesman Arnel de Mesa said that even as overall inflation slightly increased in November, rice inflation actually plummeted.
“Rice inflation went from 9.6 percent in October to 5.1 percent in November. Hopefully, the rice inflation rates will further go down because of government programs and the lower tariff on rice,” he said in an interview over dzRH.
The lower tariff on rice is an effect of Executive Order 62 implemented by the Marcos administration in July, with the tariff on the staple reduced from 35 percent to 15 percent.
Rice inflation reached a high of 24.4 percent in March this year, the fastest rate recorded in 15 years.
De Mesa said they expect rice prices to remain stable throughout the holiday season even with the usual price upticks on goods.
“Though price hikes are expected this Christmas season, we expect only minimal price increases. We can truly see the effects of the government’s programs,” he stated.
The DA also said its Rice-for-All program has been a success, especially in its initial rollout in select public markets in Metro Manila as well as in Kadiwa stores.
De Mesa announced that they will be launching the program in four more public markets soon, namely in Cartimar in Pasay, Pateros, Paco in Manila and Caloocan.
The Rice-for-All program sells regular and well-milled rice at around P45, which is P5 less than prevailing market prices.
The DA is also set to sell the lower-priced rice at select MRT and LRT stations by next week.
“We are currently targeting Metro Manila (markets) but eventuallyz25, we will be targeting markets in the province. The (Agriculture) Secretary (Francisco Tiu Laurel) is currently prioritizing selling regular and well-milled rice on markets with greater demand,” he explained.