Alcala says lower production cost will stabilize rice prices

AGRICULTURE Secretary Proceso Alcala on Wednesday said the stability of rice prices hinges on the ability of local farmers to bring down the cost of palay production to the lowest possible level.

Alcala said their studies indicated that the cost of producing palay at P10 per kilo is significantly higher than other rice-producing countries like Thailand at P8.40 per kilo and Vietnam at P5.40 per kilo.