Prices of commercial rice in Philippines market remained stable despite the damage brought by last month’s continuous rains and floods. Last year the food inflation remained unchanged at 3.5 percent, with rice prices breaking its five-month long increasing trend. Rice prices account for 38 percent of total food inflation in Philippines. Although the decrease in rice prices signaled the recovery of the rice sector from the devastation of typhoons Karen and Lawin last year, there is a need to foster technological advances in agriculture to decrease the susceptibility of our crops to natural calamities.
National Food Authority (NFA) assistant manager Elaine Respecia said based on the recent price monitoring for commercial rice in Davao City’s market, regular milled rice is still sold at P35 per kilogram (kg), well-milled rice at P40/kg, special rice at P49/kg, premium rice at P43.50/kg, and corn rice at P58/kg. The NFA rice is still sold at authorized NFA rice retailers at P27 per kilo. Respicia said NFA rice sufficiency is high for the city given the 200,000 sacks of rice they have at their warehouse. Based on the estimated 10,900/kg daily consumption of Davao City, the available rice in their warehouse will sustain the city until the next 30 days. In a recent report by the Department of Agriculture in Davao Region (DA 11), a total of 1,735 hectares of rice fields were destroyed by last month’s continuous rains and flooding.