Prices of most agricultural commodities posted a decline during the last week of June, according to a report from the Philippine Statistics Authority (PSA).
Based on its national price situationer for the second phase of June, the PSA reported that four agricultural goods declined during the period while three saw increases.
The average price of a kilogram of staple regular milled rice slightly dropped to P51.14 from P51.26 and P51.33 in late May and early June, respectively.
Galunggong or round scad also noted a decrease in price at P193.98 per kilogram from P196.22 in early June. However, it was still higher compared to P189.06 recorded in early May.
The price for a kilogram of calamansi declined to P94.12 from P96.52 recorded previously, while refined sugar to P87.19 from P87.38.
On the other hand, fresh pork meat with bones posted a significant increase at P305.30 per kilogram from P303.76 and P304.05 recorded previously.
Likewise, a kilogram of tomato had almost a tenfold increase to P80.07 from P71.47 and 68.96, as well as hawaiian ginger at P200.88 from P185.57 and P162.60
President Ferdinand Marcos Jr. earlier signed an executive order (EO) that would modify import duty rates of various commodities, including rice, to temper inflationary pressure and protect the purchasing power of Filipinos.
Under the EO, the rice levy will be slashed from 35 percent to 15 percent.
However, the government maintained tariffs for products such as corn, pork, mechanically deboned meats, sugar, and vegetables such as onions, shallots, garlic, broccoli, carrots, cabbage, and lettuce, among others.
National Economic and Development Authority Secretary Arsenio M. Balisacan earlier said that the impact of the tariff cut on rice prices may be felt in July or August as world prices are still rising.
Balisacan also said that the government is aiming to reduce the price for a kilogram of rice to P29 for the poor, paired with cash assistance.