Manila: The Department of Agriculture (DA) announced plans to trial the sale of blended local and imported rice in May as a strategy to stabilize retail rice prices and prevent potential spikes.
According to Philippines News Agency, the DA's initiative comes in response to projections of a PHP60 to PHP62 per kilogram price for well-milled and premium rice by September, should there be no government intervention. Current prices in Metro Manila show premium imported rice selling at PHP55 to PHP63 per kilo, while imported well-milled rice is priced at PHP48 per kilo, and imported regular-milled rice is at PHP42 to PHP43 per kilo.
Local premium rice ranges from PHP52 to PHP60 per kilo, with local well-milled and regular-milled rice both priced at PHP50 per kilo. The anticipated rise in rice prices is attributed to increasing fuel and fertilizer costs, compounded by the looming El Ni±o phenomenon in the Philippines.
Agriculture Secretary Francisco Tiu Laurel Jr. mentioned that the blended rice will initially be available in select retail outlets in Metro Manila. 'Next month, may trials na sa (there will be trials in) retail outlets,' he informed the Philippine News Agency.
DA spokesperson Assistant Secretary Arnel de Mesa emphasized that the initiative aims to prevent price fluctuations, taking advantage of stable international prices of imported rice. 'Ibe-blend mo 'yung murang imported plus 'yung mahal na local produced para 'yung magiging resultang presyo ay bababa (You will blend the cheaper imported rice with the expensive locally-produced rice so the resulting price will be lower),' he explained.
The suggested blend ratio is 60 percent imported to 40 percent local rice, or it could be adjusted to a 70:30 imported-to-local ratio. Besides the rice blend, the DA is also exploring the sale of blended rice and corn grits. The selling price of the blended rice has yet to be determined, as per the DA.