00:00The Agriculture Department is hoping that the price of rice will continue to fall in the second week of October.
00:08In addition, the agency will strengthen the production of food,
00:13especially since the Laniña Phenomenon will start in the next few months.
00:19Clazel Pardilla, for Centro Balita.
00:21The Agriculture Department is working hard to increase the production of food in the face of the Laniña Phenomenon.
00:32The DA is not ignoring the possibility that the next bad weather will affect the agricultural output of the Philippines.
00:41According to the Philippine Statistics Authority,
00:43the production of rice could drop to 3.36 million metric tons in the third quarter of 2024,
00:51from 3.80 million metric tons last year at the same time.
00:56At the moment, we're expecting because of Laniña that there will be one or two more giant storms there.
01:04We have prepared advanced preparation for seeds, you know,
01:08in case we really get hit again, we really have to replant as fast as possible.
01:13Even the farm machineries like direct seeders that are needed,
01:17they're arriving already so that we can do a quick turnaround and replant.
01:24Of course, crop insurance.
01:28Despite this, the DA is positive that the price of rice will continue to drop in the second week of October.
01:35Agriculture Secretary Francisco T. Laurel Jr. explained that the price of rice is not yet too low.
01:43The old stacks of rice were not yet exhausted,
01:46which were replaced by higher stacks back then.
01:49While imported rice was entering the Philippines,
01:53which was supplied by smaller stacks,
01:55under Executive Order No. 62,
01:58the number was not enough for the price of rice to drop rapidly.
02:02Unloading is slow, but there's 20 ships in Bataan waiting to be unloaded.
02:07There's Subic, Manila, Batanga.
02:12So the figures, we have to wait a little.
02:15Every day that the ship, let's say, 8,000 to 10,000 tons capacity,
02:24it's minimum 7,000 dollars a day.
02:29Although there are additional expenses for the shipment,
02:32it is possible that this will affect the price of rice,
02:36according to the DA.
02:38The expected rate is 5 to 7, right?
02:41So hopefully, at least 5 pesos should be achieved.
02:45Assumable.
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