{"id":13231,"date":"2024-01-06T16:18:33","date_gmt":"2024-01-06T16:18:33","guid":{"rendered":"https:\/\/ricenewstoday.com\/?p=13231"},"modified":"2024-01-06T16:18:42","modified_gmt":"2024-01-06T16:18:42","slug":"price-of-well-milled-rice-wont-hit-p60-says-da","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/price-of-well-milled-rice-wont-hit-p60-says-da\/","title":{"rendered":"Price of well-milled rice won&#8217;t hit P60, says DA"},"content":{"rendered":"\n<p>BY\u00a0GABRIELL CHRISTEL GALANG<\/p>\n\n\n\n<h6 class=\"wp-block-heading\">AT A GLANCE<\/h6>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Department of Agriculture (DA) downplays concerns about well-milled rice prices reaching P60 per kilo despite double-digit inflation in December.<\/li>\n\n\n\n<li>Agriculture Assistant Secretary Arnel de Mesa assures that the government is taking measures to prevent well-milled rice from reaching P60 per kilo.<\/li>\n\n\n\n<li>The DA plans to hold a meeting with stakeholders to address the proposed retail price (SRP) of rice.<\/li>\n\n\n\n<li>Rice inflation surged to 19.6 percent in December, contributing 1.7 percentage points to overall inflation.<\/li>\n\n\n\n<li>This marked the highest rice inflation rate since March 2009, according to the Philippine Statistics Authority (PSA).<\/li>\n\n\n\n<li>De Mesa doubts the likelihood of well-milled rice reaching P60 per kilo, citing expected imports from India.<\/li>\n<\/ul>\n\n\n\n<p>The Department of Agriculture (DA) played down concerns about the potential for well-milled rice prices to reach P60 per kilo, despite the double-digit increase in the inflation rate for the staple food last December.<\/p>\n\n\n\n<p>In an interview over DZBB on Saturday, Jan. 6, Agriculture Assistant Secretary Arnel de Mesa assured that the government is implementing measures to avoid the well-milled rice from reaching P60 per kilo.<\/p>\n\n\n\n<p>De Mesa stated that the DA is currently arranging a meeting with relevant stakeholders, such as consumer groups, traders, millers, and others involved in rice production, to address the proposed retail price (SRP).<\/p>\n\n\n\n<p>\u201c[The SRP] depends on multiple factors,\u201d de Mesa said. \u201cFirst, we have to look at the producer\u2019s group, on the trader\u2019s side [in terms of the value of production, and [in retail] how much is spent in comparison to decide upon the price rate,\u201d<\/p>\n\n\n\n<p>In December, rice inflation surged to 19.6 percent from 15.8 percent in November, making it the leading contributor to headline inflation, adding 1.7 percentage points to the overall figure.&nbsp;<\/p>\n\n\n\n<p>According to the Philippine Statistics Authority (PSA), this marked the highest rice inflation rate since the 22.9 percent recorded in March 2009.<\/p>\n\n\n\n<p>Despite the PSA report, De Mesa expressed doubt about the likelihood of well-milled rice reaching P60 per kilo, pointing to the expected arrival of imported rice from India.<\/p>\n\n\n\n<p>Last month, the average price of regular milled rice rose to P48.50 per kilo from P46.73 per kilo in November. Similarly, the average price of well-milled rice increased to P53.82 per kilo from an average of P51.99 per kilo a mont earlier.<\/p>\n\n\n\n<p>\u201cThe prices won\u2019t hit [60], as long as we receive and complete the imported rice from India and other [promised] importers,\u201d De Mesa said. \u201cWe can ensure we have enough supply.\u201d<\/p>\n\n\n\n<p>Before the new year, the agriculture department said that private imports would be delivered between the months of December and February of this year.<\/p>\n\n\n\n<p>According to the DA, the rice import is expected at half a million metric tons (MT).<\/p>\n\n\n\n<p>Meanwhile, the DA also said that they are setting plans and other strategies to mitigate the incoming effects of El Ni\u00f1o and La Ni\u00f1a in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BY\u00a0GABRIELL CHRISTEL GALANG AT A GLANCE The Department of Agriculture (DA) played down concerns about the potential for well-milled rice prices to reach P60 per kilo, despite the double-digit increase in the inflation rate for the staple food last December. In an interview over DZBB on Saturday, Jan. 6, Agriculture Assistant Secretary Arnel de Mesa [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12910,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[325,324,221,159],"class_list":["post-13231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-white-rice","tag-global-rice-prices","tag-food-inflation","tag-global-rice-news"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Price of well-milled rice won&#039;t hit P60, says DA - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Price of well-milled rice won&#039;t hit P60, says DA - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"BY\u00a0GABRIELL CHRISTEL GALANG AT A GLANCE The Department of Agriculture (DA) played down concerns about the potential for well-milled rice prices to reach P60 per kilo, despite the double-digit increase in the inflation rate for the staple food last December. 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