THE Department of Agriculture (DA) said on Wednesday that rice prices could rise to P62 per kilogram by September if additional funding requests for fuel and fertilizerTHE Department of Agriculture (DA) said on Wednesday that rice prices could rise to P62 per kilogram by September if additional funding requests for fuel and fertilizer
Laurel warns rice could hit P62 per kilo by September in new funding request
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THE Department of Agriculture (DA) said on Wednesday that rice prices could rise to P62 per kilogram by September if additional funding requests for fuel and fertilizer subsidies are not accommodated.
At a Senate ad hoc committee hearing, Agriculture Secretary Francisco P. Tiu Laurel, Jr. said prices could be held steady with an additional P26-billion fertilizer budget, adding that prices for the input have surged due to the fighting in the Middle East, a key source of natural gas, which is the main feedstock for nitrogen-based fertilizer.
To stabilize rice prices, the DA is considering ensuring that the rice supply consists of 30% or 40% imported grain to lower the average cost to P40 from the current P50. — Kaela Patricia B. Gabriel
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