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Philippines eyes to lower rice prices by canceling out law that promised to do so

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Rice Supply In The Philippines News

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House Speaker Martin Romualdez and Agriculture Secretary Francisco Tiu Laurel Jr. eye selling rice in Kadiwa centers below P30/kilo, closer to President Ferdinand Marcos Jr.'s promise of P20/kilo

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House Speaker Martin Romualdez said on Monday, May 6, that the House of Representatives and the Department of Agriculture are targeting reducing the price of rice to below P30 per kilo in some parts of the country by July, somewhat closer to President Ferdinand Marcos Jr.’s campaign promise of P20 per kilo.

Currently, rice prices hover between P49 and P60 per kilo, depending on the quality. Kadiwa stores are able to sell rice at P39 per kilo, with some as low as P20 per kilo, due to government subsidies. . Since the RTL’s enactment in 2019, rice prices sold in regular markets are nowhere near that price.Before the meeting with Romualdez, Tiu Laurel attended the House hearing on the proposed amendments of the RTL. One of the things DA wants amended is the restoration of NFA’s ability to import rice through the authority of the DA secretary.

The agriculture secretary mentioned possible action points such as distributing more fertilizers to farmers, decreasing post-harvest losses, improving the country’s ports.

Source: Law Daily Report (lawdailyreport.net)

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