‘Import 500,000 MT rice to bring down prices’MANILA, Philippines — At least 300,000 to 500,000 metric tons (MT) of imported rice should arrive before March 2024 to bring down the retail price of the staple food whose cost has spiked in recent weeks, Philippine Rice Industry Stakeholders Movement (PRISM) said yesterday. The government needs to ensure the arrival of imported rice through the private sector to be able to increase our stocks in the market,” Manuntag explained. “Based on our estimate, it (rice imports) could only reach 3.1 million metric tons, or at most 3.2 million metric tons as we are already in December,” he said. Based on monitoring of the DA in Metro Manila markets, the retail price of local regular milled rice was as high as P52 per kilo; local well-milled rice, P57 per kilo; local premium rice, P60 per kilo; local special rice, P68 per kilo. Imported well-milled rice was sold at P52 per kilo; imported premium rice, P60 per kilo and imported special rice, P65 per kilo.

Source: Philippine Star December 11, 2023 11:44 UTC