Rice prices in Philippines still rising despite higher production, imports

MANILA (Philippine Daily Inquirer/ANN): The disconnect in the country’s agricultural value chain remains evident in the rice industry, as the Philippine Statistics Authority (PSA) reported a continued uptick in rice prices despite an increase in palay production and decline in farmgate prices in the first quarter.

The availability of imported rice, made possible by the Rice Tariffication Law, seemed to have little effect on the retail prices of the staple.