Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. discussed the chances of a decrease in rice prices in the Philippines next month.
During the sidelines of the Horticulture and Urban Agriculture Summit in Makati City, Laurel said that the rice prices in the international market declined over the past weeks.
“If world prices go down, definitely, local prices will go down also,” Laurel said.
“On average, I think prices should be lower by next month ng kunti pero ang prediction din namin by second half pababa ang presyo sana ng rice sa international market,” he added.
As for the palay production, Laurel said that it would most likely go up in the next harvest season despite El Niño.
“El Niño really had its effect. Padating na yung ulan and sana walang malakas na bagyo,” Laurel said.
“Kung walang malakas na bagyo, babawi tayo but of course darating ang La Niña. Sana hindi ganun kalakas then we should be okay,” he added.