Egg prices up; D.A. focusing on reducing rice prices with help of Masagana Rice Industry Dev’t Program

Transcript

00:00Hopes are high and the outlook rosy on higher rice production and lower prices in the last

00:05quarters of the year with the distribution of high-quality and higher-yielding rice seedlings,

00:10expanded irrigation and adjusted planting schedules that could up production per hectare

00:14to up to 7 tons from 4.5 per.

00:17And as our Claisel Pardelia reports, the cost of eggs has risen substantially of late given

00:23a host of adverse circumstances and could likely sustain over a period of time if production

00:28remains below par.

00:33Eggs are not only the most affordable source of protein but also a stable in traditional

00:38Filipino breakfasts and essential for holiday season treats like leche flan and cakes.

00:45However, prices are already rising ahead of the Burmonts.

01:05According to the Department of Agriculture's price monitoring, the cost of eggs has increased

01:10by 50 centavos to 1 peso and 50 centavos per piece this August compared to June.

01:18Small eggs now cost 5 pesos and 50 centavos each while jumbo sizes can reach up to 10 pesos.

01:25For those on a tighter budget, extra small or peewee eggs remain the most economical choice.

01:40The Philippine Egg Board Association reports that the cost of eggs has risen substantially

01:47of late given a host of adverse circumstances and could likely sustain over a period of

01:54time if production remains below par.

01:57Eggs are not only the most affordable source of protein but also a stable in traditional

02:04Filipino breakfasts and essential for holiday season treats like leche flan and cakes like

02:09The Philippine Egg Board Association reports an increase in egg prices driven by reduced

02:14production from several layer farms.

02:16These farms have scaled back operations following financial losses in the first quarter of the

02:22year which were attributed to an oversupply of eggs.

02:26Additionally, the cost of corn used to feed has surged further contributing to the higher prices.

03:10Beba has warned a possible trend of rising egg prices is likely to persist.

03:21The group is coordinating with the Department of Agriculture to help reduce poultry cost.

03:27They are also urging the DA to expedite the availability of vaccines against bird flu.

03:40The DA is also focusing on further reducing rice prices with the help of the Masagan Rice

03:54Industry Development Program.

03:56They will distribute high quality rice seeds, expand irrigation and adjust planting schedules.

04:02They aim to increase yields over 7 metric tons per hectare compared to the current average

04:08of just a little over 4 metric tons.

04:11If successful, Philippine rice production could reach 25 million metric tons.

04:17This will ensure a higher supply of rice and lower prices.

04:22Alongside this, the P29 program and Rice for All program will continue as well as the arrival

04:28of imported rice at lower tariffs which help make rice more affordable.

04:34We are seeing 45 pesos in the market right now.

04:37There are also selling 42 pesos that we can see.

04:41If this continues and imported rice will find its way to our retailers, it will have a significant

04:50impact in continuing to lower prices.

04:54Kalei Zalparadilla, for the new and better Philippines.