Stable Supply and Prices. Shoppers at the Quinta Market in Quiapo, Manila, were seen purchasing fresh produce on December 4, 2024. The Department of Agriculture (DA) announced on December 5 that they anticipate a continued stabilization of agricultural commodity prices throughout December, thanks to a consistent supply.
MANILA – Despite a slight uptick in food inflation to 3.5 percent in November, the DA remains optimistic about maintaining stable prices and supply of agricultural products this December. Agriculture Secretary Francisco Tiu Laurel Jr. noted that although food inflation rose from 3 percent in October, rice inflation saw a significant decrease from 9.6 percent to 5.1 percent, a trend he believes could continue.
Secretary Laurel stated, ‘Should international rice prices keep falling, the peso stay steady, and tariffs remain low, we can expect further declines in the price of well-milled rice in the coming months.’
DA Assistant Secretary Arnel de Mesa also confirmed a stable supply by the end of the year. He mentioned, ‘Our rice supply this December is robust. While local production might decrease, our imports stand at 4.5 million metric tons,’ ensuring over 100 days of national stock inventory by year-end.
De Mesa emphasized the ongoing government initiatives like the Rice for All and P29 programs. The Rice for All program offers mixed local and imported well-milled rice at PHP40 per kilogram to the public, while the P29 program sells aging but quality National Food Authority (NFA) rice at PHP29 per kilogram to vulnerable groups including senior citizens, persons with disabilities, members of the Pantawid Pamilyang Pilipino Program, and solo parents.
Regarding vegetables, a key factor in the November food inflation increase from -9.2 percent to 5.9 percent due to typhoon impacts, De Mesa assured that prices are expected to ease this month. He observed, ‘We’ve noticed a decline in vegetable prices from last week to this week, suggesting a continued drop in prices and a positive impact on December’s inflation.’
De Mesa highlighted the recovery in vegetable prices post-typhoons Kristine (Trami) and Pepito (Man-yi). He noted, ‘Tomato prices, which soared to PHP220 after the typhoon from PHP80 last month, have now fallen to around PHP150 to PHP160 this week, showing a significant decrease.’
The stabilization is supported by the normalization of highland vegetable transport in provinces like Nueva Vizcaya, Cagayan, and Nueva Ecija, with lowland vegetable production also on the mend.
De Mesa attributed the rise in meat inflation to the ongoing effects of African swine fever and heightened holiday demand. He mentioned, ‘During the ‘ber’ months, there’s a surge in orders for roasted pig and ham.’
Despite this, he assured a stable supply of livestock and poultry, backed by assurances from major stakeholders.