THE government may implement a calibrated reduction in rice tariffs to reduce the price of imported rice, according to the National Economic and Development Authority .
“To partially counterbalance the rise in global prices and alleviate the impact on consumers and households, we may implement a temporary and calibrated reduction in tariffs,” Balisacan said.Neda assured the public that the government will strengthen its measures to ensure food security, protect consumers, and provide assistance to farmers.
This is in response to the adverse effects of continuous rains in August and the anticipated impact of El Niño on domestic rice and vegetable production in the first quarter of 2024.
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