Congress think tank: Rice prices projected to surge by up to 19.4%

The price of regular-milled rice in the Philippines could increase by between 9.1% and 19.4%, or about P5 to P10.6 per kilo, due to a fertilizer shortage, according to a policy brief released by the Congressional Policy and Budget Research Department (CPBRD) of the House of Representatives. The report, titled “Seeds of a Food Crisis: Fertilizer Supply,” was reported by BusinessWorld .

The CPBRD brief attributes the projected surge to rising fertilizer costs and supply constraints exacerbated by global market disruptions. It notes that the Philippines, which relies heavily on imported fertilizer, is particularly vulnerable to price volatility. The report calls for immediate government intervention to mitigate the impact on farmers and consumers.

The potential price hike poses a significant threat to food security in the country, where rice is a staple. The CPBRD recommends measures such as expanding local fertilizer production, providing subsidies, and improving distribution to stabilize supply. The briefing comes ahead of the rice harvest season, raising concerns about affordability for millions of Filipino households.