00:00 The Sinag Group will recommend to President Ferdinand R. Marcos Jr. to return the price cap to rice.
00:06 The group is worried that there might be an artificial increase and manipulation of the price due to the high ability of rice.
00:15 Claisel Cordelia has a report.
00:22 Since the beginning of the harvest, rice is sold for P23 to P25 only, according to the bad agriculture industry or SINAG.
00:32 But this week, when the harvest season is about to end, some traders buy rice at a high price, reaching P28.
00:43 The group said that it is being done to cause an artificial increase in the price of rice and manipulate the price of rice.
00:52 If you suddenly buy at a higher price, we can see that someone is manipulating the price.
01:02 Traders will reason that they bought at P28 so the delivery should be higher. But they bought P25 for the harvest peak.
01:19 The Sinag Group will recommend to President Ferdinand R. Marcos Jr. to return the price cap to well-mealed rice in the next month.
01:28 If it's P28, it will be P47 to P48 retail price. The price should not go up.
01:41 We should increase the price cap to P45 so that the purchase of rice will go back to P25, P23 to P25.
01:53 Before placing a price ceiling, the Grains Retailers Confederation asked the group to know the inventory of rice and rice and how much it was bought.
02:03 We are not against this. If it's really needed, it's for our consumers, it won't affect much. But we need to know the market process.
02:16 The DA said that the price of rice has been raised, but according to the agency,
02:22 the maximum is P27 and the minimum is P14. The average is about P22.
02:30 Meaning to say, the price is lower. So isolated cases are the ones with higher farm rate. But we will see that in the next couple of weeks.
02:40 The DA has not yet seen that the price ceiling should be implemented.
02:45 The price cap should really be a short term one. I don't think we will resort to that. We'll have to study how.
02:52 There are probably other measures that we can already do.
02:55 The release of non-basmati rice from India will help reduce the price of rice.
03:03 More than 1 million metric tons of rice are allowed to be exported.
03:07 The largest amount is ready to be sold in the Philippines, which is up to 295,000 metric tons.
03:14 Hopefully, with the harvesting, with additional supply, especially this is an important price.
03:20 If it's going to be lower, then definitely it will influence the market, the retail market.
03:25 To increase the production of rice and rice grains, the DA's target is to plant rice twice a year during the hot season.
03:34 We have controlled the weather. With proper irrigation, I think we will be able to increase our production and have higher yields during those times.
03:47 The DA and the National Food Authority will also make a growing contract.
03:52 The DA will buy rice from farmers before planting rice so that farmers can buy rice and have a buffer stock during the lean months.
04:04 In the RICE Congress, the Philippine Crop Insurance Corporation promised that farmers will be paid for the crops affected by the pandemic, such as baguio and el nino.
04:16 Kalei zalpardiliya para sa morning show ng bayan.
04:21 Rice and shine, Pilipinas!
