Rice prices

June 25, 2024 People's Tonight 147 views

IF the price of rice drops next month, attribute it to President Marcos’ issuance of an executive order reducing tariff rates on imported rice.

The influential Philippine Rice Industry Stakeholders Movement (PRISM) said that rice prices would significantly drop to as low as P42 a kilo.

Reports said PRISM is composed of the country’s seed growers, farmers, millers, traders, importers and retailers.

PRISM leaders, including founder Orly Manuntag, made the statement during a meeting with House Speaker Ferdinand Martin G. Romualdez.

The group also pledged to negotiate with exporting countries not to take advantage of rice prices. Like many Asian nations, rice is the main staple in the Philippines.

Mamuntag expects the price of regular milled rice to go down to between P40 and P43 per kilo, and premium rice to P47 to P50 per kilo.

President Marcos’ executive order reduces the tariff on imported rice from 35 percent to 15 percent, hoping to stabilize rice prices.

We cannot overemphasize the importance of bringing down the prices of rice since the lean months starts next month.

In the Philippines, the so-called lean months end in September. In many parts of the country, the harvest season starts in October.

We salute the government for making sure that the Filipino people, notably the poorest of the poor, have access to cheap but quality rice.