Like most countries in Asia, rice is a staple food in the Philippines, so many have been worried since a government official said earlier this week that they have a low supply of government-subsidized rice.
On Monday, National Food Authority spokesperson Becky Olarte said that their supply is below the required 15-day supply buffer.
“As of yesterday, we only have around two days-worth of NFA [rice] stock left…this is the lowest supply we’ve had in around 10 years,” she told ABS-CBN News in English and Filipino.
However, Olarte noted that these are just estimates based on the assumption that the entire population will only eat NFA rice.
NFA rice is priced at for PHP27 (US$.53) to PHP32 (US$.62) per kilogram, much lower than other rice in the market that cost anywhere from PHP36 (US$.70) to PHP41 (US$.80).
However, during a press briefing this morning, NFA Administrator Jason Aquino clarified that they still have enough rice for 35 days, but acknowledged that they are low in supply because farmers are selling rice for PHP19 (US$.37) to PHP22 (US$.43), while the the government can only buy them for PHP17 (US$.33) to be able to sell them at low prices.
Late last month, the NFA deferred an import order for 250,000 metric tons of rice even though their stocks have started to deplete because they believed there was enough supply in households and commercial warehouses.
According to Aquino, another reason for the low supply is that a lot of NFA rice has been set aside for those affected by th errupting Mayon Volcano in Albay.
This morning, protestors demonstrated outside the NFA office in Quezon City holding empty pots of rice and circular rice baskets in place of picket signs.
Because there is a low supply of NFA rice, some fear higher demand for commercial rice will lead to an increase in its prices.
Presidential Spokeseperson Harry Roque said yesterday that the situation is under control and that there is now a standby order for the 250,000 metric tons of rice.
