By Liezelle Soriano
MANILA — Agriculture Secretary Francisco Tiu Laurel Jr. assured the public on Saturday (10 Feb 2024) of an ample supply of rice in the country for the first half of the year 2024.
“We have sufficient rice supply, which should keep prices stable through the initial months of the year. Our primary focus now is on ensuring market stability,” stated Laurel.
Despite the prevailing El Niño conditions, the supply of this staple food will remain steady until June. However, prices may persist at higher levels until September due to the impact of El Niño on global rice supply and increased demand for grain.
Last week, the Philippines inked a five-year agreement with Vietnam to secure rice supply, with an expected annual quantity ranging from 1.5 million to 2.0 million metric tons.
Additionally, India has committed to providing the country with additional rice, despite the ban on the import of non-basmati rice.
(el Amigo/MNM)
