A group of farmers is afraid that the price of rice may increase by up to P4 per kilo.
The Federation of Free Farmers Cooperative announced this in Bam Alegre’s report on GMA News’ Unang Balita this Tuesday.
The still-increasing cost of petroleum products causes a possible increase in the price of rice.
In addition, the expensive cost of planting is increasing since the price of fertilizer or fertilizer on the land.
Last week, the cost of fertilizer increased to P15,000 from the previous P12,000.
Because of this, according to the group, the rice production cost increased by P3 per kilo. So the farmer’s profit margin is said to be only P4 per kilo.
Some rice vendors reportedly raised their prices last month. But due to complaints from shoppers, they cannot push the extra price they have to impose.
Instead, rice sellers just hope that many people will buy the product.
Price of rice might increase by P4 per kilo – farmers group
Currently, local rice costs in the markets are from P38 to P40 per kilo.
In June, Agriculture Secretary William Dar said that while he supports President-elect Ferdinand “Bongbong” Marcos Jr.’s goal of lowering rice prices to P20 per kilo, P27.5 per kilo is “the nearest we can do by now.”
“The nearest we can do by now — I can be given other figures if you have better way of doing it — P27.50 is the nearest,” Dar said during a press conference.
Dar claims that the Department of Agriculture (DA) has begun “conceptualizing” how to hit the P20/kg target and has come up with some recommendations.
Adopting the Masagana 99, a program started by Ferdinand Marcos Sr., the late president, is one of them, he claimed. As part of the program, the government would encourage farmers to use recently developed technology to increase the nation’s average rice crop yield to 99 kaban per hectare.
According to Dar, the current national average yield of inbred and hybrid rice is 4.5 metric tons per hectare or less than 100 kaban.
Visit our Facebook page for more news updates.