00:00 The fields are beginning to turn gold. Harvest time is almost here.
00:07 But Tedorito de Leon says there won't be any bounty. Aside from the recent storms,
00:14 the price cap on rice imposed by President Marcos, who's also Agriculture's Secretary, would mean losses.
00:22 From 27 pesos per kilogram when retail was at 50, the 41-peso cap would bring farmgate prices down to just 19 pesos, if not lower.
00:32 It's not a favor because the input of the rice is too high, like the corn, the diesel.
00:40 It's business as usual in this rice mill where millers remove the husk to produce that edible white rice kernel.
00:50 The miller here keeps the store open for both retailers and wholesalers who'd like to buy the rice,
00:57 even if he will earn less because of the price ceiling.
01:01 Jun Medrano says many continue to buy rice from him and he needs to get supply from farmers.
01:09 If the rain continues, it's hard to dry the rice. If the rice is wet, it will be heavy and it might reach 16 pesos.
01:21 On top of the farmgate price, milling costs of about 5 pesos per kilogram and logistics costs are added, bringing the miller's selling price to 37 pesos.
01:33 This is what wholesalers will deliver to the market. Of course, they will still earn at least a peso.
01:40 It will be 38 pesos. This is what can be sold in the market for 41 pesos.
01:47 While farmgate prices are still under negotiation, De Leon hopes 19 pesos is the lowest it would go.
01:55 But even at that price point, he says farmers will remain at the losing end of the 41-peso price cap.
02:02 The 41-peso price cap is fine with me as long as farmers give me assistance.
