AN agricultural group on Friday warned that the retail price of rice will go up between P4 to P5 a kilo in October amid the delay in the release of at least P10,000 subsidies to farmers.
Samahang Industriya ng Agrikultura (SINAG) Executive Director Jayson Cainglet said this will mean an increase in the retail price of rice between P43 and P44 per kilo from the current P38 to P39 a kilo.
"Farmers lament the fact that it is already the last phase of palay production and they need more fertilizers to increase their yield," Cainglet said.
Cainglet added that this include the P5,000 rice support to farmers as provided under the Rice Farmers Financial Assistance (RFFA) program under the Rice Tariffication Law in 2019; P3,000 fuel subsidy under the DA Memorandum Circular 7 and P1,000 to P2,000 fertilizer discount voucher under DA Memorandum Order 22.
"Despite the funds being already released by the DBM (Department of Budget and Management) the allocations are still stuck at the DA," he noted.Get the latest news
According to Cainglet, without such support, rice farmers would bear the brunt of the spiraling increase in the cost of palay production.
"Such increase would mean a sharp rise in the farmgate price of palay and ultimately the retail price of rice. Very few have received these subsidies," Cainglet said.