(Eagle News)–The Department of Agriculture on Tuesday said that rice production has increased, with the country with 52 days worth of rice supply by the end of September.

DA Undersecretary Mercedita Sombilla made the statement to President Bongbong Marcos during a sectoral meeting in Malacañang where  the basis for lifting the price ceiling on rice imposed under Executive Order (EO) No. 39 was discussed.

Citing DA records,  the Presidential Communications Office said that apart from the 52 days worth of rice supply by the end of September, by end of October, with the harvest in full swing, the country’s rice supply is expected to be the equivalent of 74 days.

DA-Bureau of Plant Industry (BPI) Director Gerald Glenn Panganiban said  an increase in supply of the local harvest in the last quarter and the rest of the year is also expected.

As such, the DA  said the parameter for abundant rice supply that would signal the lifting of the price cap under  EO No. 39 has been met.

It said the other indicators have also been met.

Rice prices, for instance, it said, have  gone down close to the price ceiling, with the average price of regular milled rice at around P41.91 per kilo and for well-milled rice at P45.95

A drop in the export prices of rice in the global market has also been reported.

“So that’s about it and we are expected that DA and DTI (Department of Trade and Industry) to have collaborations in order to further monitor and survey the prices so that it will not… again, increase drastically,” Panganiban said.

“So, that’s what we are doing and we are working with all agencies of the government – not only the DA but also the DTI and DILG (Department of Interior and Local Government) to implement whatever measures and guidelines we can do so that the consumers and, of course, our stakeholders, the farmers, who also benefited (from this),” he added.

Under the EO, the mandated price cap for regular milled rice is P41.00 per kilogram while the mandated price ceiling for well-milled rice is P45.00 per kilogram.