Rice farmers are moreover forced to accept whatever traders with monopsony power offer them
There are many other ways to make food more affordable. There should also be producer support prices to help protect rice farmers from the relentless downward pressure on their palay from traders abusing their local monopsony power. Trade protections against rice imports from Vietnam, Thailand, Myanmar, India and others will be needed until improvements in the efficiency of Filipino farmers have traction.
To begin with, rice farmers are given scant support to produce rice cheaply and with decent remuneration—and, if anything, are even made to compete with cheap rice from abroad.Consumers are also at the receiving end of neglect. But even that effort is short-lived and agriculture’s share starts to fall again to only 3.4 percent in the proposed 2024 budget.
Unable to take the long view of making rice cultivation more viable and remunerative, it chronically resorts to short-term damage control like the price cap and importation.
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