Marcos optimistic about achieving P20 per kilo rice price

MANILA, Philippines — President Ferdinand "Bongbong" Marcos Jr. is confident about reducing the price of rice to P20 per kilo nationwide. 

Marcos, who also serves as the agriculture secretary, made the statement on Tuesday while distributing 1,500 sacks of high-quality smuggled rice to beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) during his visit to the National Food Authority (NFA)-Region IX warehouse in Zamboanga City.

"May chance lagi ‘yan. Kung maayos natin ang production natin at maging maayos, hindi na tayo masyadong bagyuhin at ‘yung mga tulong na ibinibigay natin sa mga farmer ay magamit na nila," Marcos said.

(There's always a chance. If we improve production, reduce the impact of disasters on farmers, ensure farmers make the most of our support, we can do it.)

The agriculture chief said that lowering production costs is the key to making rice more affordable. He explained that when production costs go down, rice prices will drop too. 

Marcos also said that the government can make needed changes more easily when things are stable.

Reducing the price of rice to P20 per kilo was one of the campaign promises Marcos made during the 2022 presidential race. He explained that achieving this goal requires addressing the value chain and improving the efficiency of rice production, with each stage adding value to the final product.

To improve the income of farmers and ensure a sufficient supply of the staple item, the National Food Authority Council on Monday, led by Marcos, has approved new price ranges for rice. Wet palay prices range from P16 to P19, and dry palay prices are set at P19 to P23.

Earlier this month, the government started controlling rice prices to make it cheaper and discourage hoarding. But some experts are concerned this might harm farmers and traders.

Rising rice costs are also influenced by factors like the Russia-Ukraine conflict, India's ban on non-basmati white rice exports, and unpredictable changes in oil prices. — with a report from Gaea Katreena Cabico