The country has enough supply of rice that would last for a little more than one month despite three unfortunate events that have affected its production, an official of the Department of Agriculture (DA) said Tuesday, August 1.

The DA has 39 days’ worth of stock of rice, according to Undersecretary Mercedita Sombilla, as the department is seeking ways to further increase the production of farmers.

She said the supply was affected by the recent devastation brought by Super Typhoon “Egay” to the agricultural sector amounting to an estimated P1.94 billion, including P950 million worth of damage to the rice sector and P730 million to the corn sector.

“The biggest rice production will be arriving sometime at the end of September or October,” Sombilla added.

She said the withdrawal of Russia in the Black Sea Grain Initiatives will also have a minimal effect on the country as this will cause a slight elevation on the global food prices.

The initiative allows for commercial food and fertilizer exports from three key Ukrainian ports in the Black Sea – Odesa, Chornomorsk, Yuzhny/Pivdennyi, to ensure Russian food and fertilizer will reach global markets, support the stabilization of spiraling food prices worldwide, and stave off famine.

Sombilla also mentioned the banning of exportation of non-basmati white rice by India as among the factors that impacted the supply of the staple in the Philippines.

Based on the data provided by the National Rice Program (NRP), close to four million metric tons were already exported before India imposed the ban.

She expressed worry that the traders who are importing rice might start hoarding the stocks that they have.

“Wag sana nilang gawin na i-hoard 'yung, whatever stocks they have left now, that has really have to come out to the market (I hope they don't hoard whatever stocks they have left now, that really has to come out to the market),” Sombilla added.

The DA official also said that the impending El Niño phenomenon that will be experienced in the latter part of 2023 until the first quarter of 2024 may affect the production of rice. (Nicole Magmanlac)

Source:
courtesy of MANILA BULLETIN

by MANILA BULLITINE

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