PH Expects "Stable" Rice Supply in Q4

The country is expected to have a stable supply of rice in the last quarter of the year, according to an agriculture official.

The country is anticipated to harvest 1.9 million metric tons of rice this month, which will boost national buffer stocks of the staple to 74 days from the current 52 days.

Gerald Glenn F. Panganiban, the director of the Bureau of Plant Industry, stated that the country is anticipated to harvest 1.9 million metric tons of rice this month, which will boost national buffer stocks of the staple to 74 days from the current 52 days.

He further mentioned, "It is possible that the price cap on rice, imposed last month, will be lifted soon, but the decision will have to be made by President Ferdinand R. Marcos, Jr., who also serves as the agriculture secretary."

Panganiban noted that a drop in rice prices has been observed following the imposition of price ceilings last month.

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