PRICES of agricultural commodities increased at the start of September, with rice selling for P56 per kilogram (kg), a bit higher than P55.99/kg in the second half of August, according to data from the Philippine Statistics Authority. Well-milled rice in Western Visayas was sold at P59.3/kg. Special rice was at P63.94/kg, up slightly by 0.47 percent from P63.64/kg in the second phase of June 2023. Regular milled rice, meanwhile, remained stable at P50.50/kg in the same period. Agriculture Secretary Francisco Tiu Laurel Jr. on Wednesday said the expected decline in rice prices has been delayed because traders ramped up imports of the staple in anticipation of a supply shortage caused by El Niño. He sees costs decreasing in October from reduced import tariffs. However, Tiu Laurel also noted the tax cuts' full impact "may be felt in January 2025, since demand for food usually spikes in December." Economic managers estimate the rice tariff reductions could lead to a price cut of P5 to P7/kg. Other agricultural commodities with higher prices include galunggong (round scad) at P204.86/kg, up by 3.57 percent from P197.79/kg in the second phase of August. Bulacan sold the most expensive galunggong at P340/kg. By region, the highest retail price of galunggong was in the National Capital Region at P256/kg. Average price of medium-sized eggs at the national level was P9.00 apiece from September 1 to 5, up by 3.5 percent from P8.69 in August. At the national level, cooking oil also posted a higher retail price at P159.50 per liter in the first phase of September, compared to P157.69 and P158.21 in the second and first phases of August, respectively. On the other hand, the price of onions dipped at P130.26/kg from P130.55/kg in the previous month. A kilo of tomatoes sold at P90.7 during the period, 25.5 percent lower than P121.8/kg in the second phase of August. Brown sugar was most expensive in the Mimaropa (Mindoro, Marinduque, Romblon and Palawan) region at P119.56/kg. Read The Rest at :