Cebu province will be the first to sell rice from the National Food Authority (NFA) at P20 per kilo, Gov. Gwen Garcia said on Wednesday.
Saying the move fulfills the campaign promise of President Marcos to bring down the price of the staple grain to P20 per kilo, Garcia said the subsidized rice will be offered first to indigent families.
The Cebu provincial government allocated a budget of P100 million to buy NFA rice.
Meanwhile, supply and quality issues on domestic corn may trigger spikes in the price of meat, eggs, and fish, a group of local feed millers said Thursday.
Philippine Association of Feed Millers Inc. (PAFMI) president Edwin Mapanao underscored the significance of good quality corn as a vital ingredient in animal feeds, on top of its contribution to the human food chain as a raw material and food extender.
“Yellow corn comprises up to 60 percent of the formulation of animal feeds and is utilized in food and bioethanol production. As it plays a role in many industries, ensuring the country has access to affordable and good quality corn is an issue that not only affects the livelihood of farmers but also has broader implications on food security and economic stability for the rest of the community,” Mapanao said.
The Philippine Statistics Authority’s (PSA) Summary Inflation Report and Consumer Price Index released this month showed that food inflation at the national level rose to 10 percent in September while the index for corn recorded an annual increase of nearly 2 percent.
The report noted that with the sustained increase in the prices of goods and services this year, the effects of decreased consumer purchasing power and overall economic stability will be felt throughout the next few months.
“We hope that with this in mind, the administration will continue to find ways to ensure accessibility, availability, and affordability of yellow corn as well as other produce, both in the interim and in the long term which will help manage food inflation in the country,” Mapanao said.
PAFMI also renewed its call for the Palace to extend Executive Order No. 10 which lowered tariffs on corn to 5 percent, regardless of volume.
The group said keeping the low tariff will help fill supply gaps and sustain the production of local livestock, poultry, and cultured fish as well as eggs at affordable prices.
Feed millers anticipate a production loss of about 800,000 metric tons (MT) of corn due to El Niño, based on the previous estimates of the National EL Niño Team at the Department of Agriculture.