‘Farmers to see hard times after palay price falls’

An agriculture industry group has warned that farmers are facing tough times again after the buying price of palay (unmilled rice) fell to P12.50 per kilo before harvest season starts next month. According to the Samahang Industriya ng Agrikultura (Sinag), farmers have been complaining since last week that farmgate prices of the staple were quoted at P12.50 to 13.50/kilo, which Rosendo So, the group’s chairman, calls a financial loss to them. The breakeven farmgate price of freshly harvested rice is P14.50/kilo. For dry, the support price of the National Food Authority is at P19/kilo, which was found acceptable. Sinag urged the Department of Agriculture to set aside P152 billion to procure the expected 8 billion kilos of palay to be harvested this coming season at P19/kilo to help farmers.