The price of well-milled rice slightly increased during the first week of January amid the dry spell forecast this year, based on the data from the Philippine Statistics Authority (PSA).

According to the PSA report, a kilogram of well-milled rice cost P55.5 from January 1 to 5, which is higher than P54.76 in the second phase of December and P54.34 in the first phase.

Despite this, Agriculture Secretary Francisco Laurel Jr. said that the stock of rice is sufficient and that additional rice imports are coming into the country.

He further said that the country had an ending rice stock of 20 million tons last year and is eyeing for similar volume this year because of the possible effects of the El Niño phenomenon.

Laurel cited the rising global prices of rice in major exporting countries, particularly Thailand, which will likely reach around $600 per tonne, based on the country’s rice exporters association.

Meanwhile, the phenomenon is expected to continue until February and will persist until March, April, and May, according to the Philippine Atmospheric, Geophysical, and Astronomical Services Administration.

Apart from rice, the price of galunggong or mackerel scad also saw an increase to P209.96 per kilogram during the period, a turnaround from the P203.70 and P203.80 per kilogram during the first and second phases of December last year.

The price of a kilogram of Baguio beans and lakatan banana also increased during the period to P124.45 and P86.87, respectively.

Other agricultural commodities, however, price declines such as a kilogram of brown sugar which had an average retail price of P79.03 during the period from P79.74 and P80.15 in December 2023.

Red onion also contracted to P199.10 per kilogram, a significant decrease from P207.79 and P210.25 during the first and second phases of December 2023.

A kilogram of dressed chicken experienced a slight decrease in prices, from P194.88 and P194.76 in December to P194.31 during the first week of this year.