THE COUNTRY needs a backup plan to ensure rice sufficiency ahead of the expected bad weather and El Niño dry spell in the coming months, Senator Sherwin T. Gatchalian said on Wednesday.
During a Development Budget Coordination Committee (DBCC) briefing on the proposed 2024 budget before the Senate finance committee, the senator said rising prices could worsen inflation.
“Submit to us a contingency plan,” he told DBCC officials. “I’m really worried that this export ban from other countries will affect us not only in terms of supply but also in terms of prices.”
Global rice prices have jumped by about 20% to 15-year highs since India, which accounts for 40% of world supplies, banned non-basmati white rice exports last month, Reuters reported.
The Department of Agriculture had recommended that the private sector import an additional 500,000 metric tons (MT) of rice because El Niño-induced dry spells could affect crop production later this year.
“I would like to urge the government to seriously look into the situation because it’s not only going to affect inflation but more importantly food on the table for our own constituents,” Mr. Gatchalian said. — John Victor D. Ordoñez
