Senators seek data on how lowered tariff cuts prices of rice in markets

Senators on Thursday urged economists and experts to produce data on how lowered tariff rates bring down the cost of rice in the market.This, after the Philippine Statistics Authority failed to present relevant figures that would support the need for the lowering of tariff rates during the Senate committee on agriculture, food, and agrarian reform's hearing on the bills and resolutions related to the Rice Tariffication Law .

Yan ang gusto naming ipaliwanag ng mga dalubhasa, mga economist kasi parang baliktad ang pangyayari," she went on, noting that the same was promised when the tariff on imported pork meat was lowered, but the intention was not fulfilled.Philippine Institute for Development Studies research fellow Roehlano Briones explained that the retail price of rice increased in 2023 because of the world market.

Source: Financial Digest (financialdigest.net)

Rice Prices Rice Tariffication Law

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