30.5 C
Saturday, June 6, 2020
Home Business Top Business Rice stocks down by 17.9% in Oct

Rice stocks down by 17.9% in Oct


THE Philippines’ total rice stocks decreased by 17.87 percent to 1.59 million metric tons (MMT) as of October 1 from 1.94 MMT a year ago, the Philippine Statistics Authority (PSA) said.

The data came as the National Food Authority (NFA), backed by the Trade department and the Philippine National Police (PNP), began imposing penalties on those violating the suggested retail prices (SRPs) of the staple as officials from these agencies inspected a market in Sampaloc, Manila on Friday.

A National Food Authority official inspects a stall selling rice at Trabaho Market in Sampaloc, Manila on Friday morning to see if it is following the SRP for both local and imported rice. NFA PHOTO

In its monthly “Rice and Corn Stocks Inventory” report, the PSA said the October figure was a 36.12-percent increase from 1.795 MMT in September, as rice imports continue to boost the NFA’s buffer stocks.

Stocks fell by 19.82 percent to 859,160 MT — about 54.04 percent of the total — in households; 14.56 percent to 602,300 MT (37.88 percent) in commercial warehouses; and 19.40 percent to 128,430 MT (8.08 percent) in NFA depositories from year-ago figures.

Stock in households, warehouses and NFA depositories rose by 40.80 percent, 34.82 percent, and 15.60 percent, respectively from September figures.

Agriculture Secretary Emmanuel Piñol had said the country is expected to lose about 800,000 MT of palay (unmilled rice) this year because of the typhoons that hit the country and slashed farmlands.

Warning for first-time offenders

On Friday, Piñol said those violating the SRP order the first time would receive a “written warning,” and those who repeat it would be fined.

Penalties for violators include canceling their NFA licenses, a jail term of up to four years and fines up to P1 million, he added.

“This is a measure that we are doing because we want to protect everybody. We don’t want to appear to be cruel or very harsh. But this is the process: first is a stern warning from the NFA and the second [is the] cancelation [of license] and filing of fines,” Piñol said in a DZMM interview.

According to him, NFA managers also risk being sacked if they fail to enforce SRPs in markets under their jurisdiction.

The government officially imposed SRPs for rice in markets on October 27, but penalties and sanctions could only be enforced 15 days after the publication of the guidelines for them as approved by the NFA Council.

For imported rice, the SRP is P39 per kilo for well-milled and P43 per kilo for premium.

For local, regular milled rice, the SRP is P39 per kilo; local well-milled rice, P44 per kilo. The SRP for premium rice should not be higher than P47 per kilo.

The SRPs do not cover special rice varieties, including Cordillera heirloom, organic rice, jasponica, Doña Maria, hinumay, malido, and malagkit.


Heart Evangelista gives out free tablets to students

Actress, painter, and fashion maven Heart Evangelista went on Twitter on Thursday to announce she will give away free tablets to school children whose...

Año: 155 barangay execs under probe over cash aid irregularities

A total of 155 barangay (village) officials are under investigation for alleged involvement in irregularities in the distribution of the social amelioration program (SAP),...

Duterte opposes move to allow motorcycle back riding

PRESIDENT Rodrigo Duterte thumbed down Cebu Gov. Gwendolyn Garcia's plan to allow back riding in motorcycles, saying he could not ignore the laws of...

Retired policeman found dead outside Manila Zoo

A retired policeman was found dead outside Manila Zoo, police said on Friday. Initial investigation showed that former SPO2 Jaime Limon, 67, was found lying...


Today's Front Page