Thursday, February 22, 2024

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The rice supply in the Philippines is projected to remain stable during the fourth quarter.


An agriculture official stated on Tuesday that the Philippines will experience a consistent supply of rice in the final quarter of the year.

According to Gerald Glenn F. Panganiban, the Director of the Bureau of Plant Industry, the Philippines is projected to produce 1.9 million metric tons of rice this month. This increase in rice production will raise the country’s reserve supply to 74 days, up from the current 52 days.

According to Mr. Panganiban, there is a chance that the rice price limit enforced last month will be removed in the near future. However, the final decision will be made by President Ferdinand R. Marcos, Jr., who also holds the position of agriculture secretary.

According to Mr. Panganiban, there has been a decrease in the cost of rice after limits were implemented last month. He shared this information during a press conference with the media.