DA optimistic rice prices to continue to drop in succeeding months

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00:00The latest drop in headline inflation as a result of a slowdown in food and rice inflation

00:05does not necessarily mean a continuing downtrend in rice prices moving forward.

00:11A slowdown in the surge or uptick of rice prices and not falling cost is what the rice

00:17inflation really means, claims the agriculture group CNAG, and as our Joshua Garcia dwells

00:23deeper in this report.

00:27The Department of Agriculture is optimistic the price of rice will continue to slide in

00:31the coming months.

00:33The department is hopeful rice inflation will drop to as low as 9%, which will also lead

00:38to a slower overall inflation rate in the country.

00:41Single digit, maganda yan, makita natin noong panahon after RTL, after a year, naging stability

00:50ng inflation because of rice, nasa mga 2-4% lang.

00:56So hopefully we can reach that level ulit in the near future.

01:00Kasi yung rice, about 25% ng kabuwang food inflation dahil sa bigas.

01:07So kung bababa palalo yung bigas, lalong bababa yung food inflation, at malaki yung magiging

01:13epekto sa kabuwang inflation numbers.

01:16The DA further added that the effects of Executive Order No. 62, which reduces tariffs on imported

01:22rice, will soon be felt.

01:24Meanwhile, Congressman Wilbert Lee of the Agripartalist believes supporting farmers

01:28is the most effective solution to inflation.

01:30Once their income is secured, production and supply will increase, leading to lower market

01:35prices.

01:36According to the SINAG group, a lower inflation rate does not necessarily mean a drop in prices.

01:41Rather, it just means the rate of increase has slowed down.

01:45The group emphasized that tariff reviews should also go through legislators, not just the

01:50departments and agencies in agriculture.

01:53Ang batas, dapat every review yan, ginataan sa Kongreso, except kung nakahinto ang Kongreso.

02:04So yung gagawin nila na Executive Department ay talagang mag-review, I don't think na sa

02:11legality, wala silang power na mag-review.

02:17Dapat kasi kung on session, duman sa Kongreso ang review ng tariff.

02:25Meanwhile, according to data from the Philippine Statistics Authority or PSA, rice inflation

02:30slowed down from 20.9 percent in July to 14.7 percent in August of this year.

02:37Joshua Garcia from the National TV Network, for a new and better Philippines.

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