MANILA, Philippines — President Ferdinand Marcos Jr. has agreed to tag as urgent proposed changes to the controversial Rice Tarrification Law that would allow the National Food Authority to sell cheap rice in the markets again.
This is the country's highest rice inflation rate since February 2009, when the increase in rice prices was recorded at 24.6%. Romualdez said in an earlier interview that the House of Representatives is targeting to reduce rice prices from the present P40 to 45 / P50 to P30 per kilo by June through amendments of the RTL.
The measure, which was hailed by the Duterte administration as an effective price-lowering mechanism, was widely opposed by farmer groups concerned about how the entry of cheap, lower-quality rice could hurt the income of domestic farmers. The think tank also pointed out that the liberalization of rice had hurt farmers' income. Citing data from the Philippine Statistics Authority, IBON Foundation found that in 2019, rice farmers’ net income per hectare decreased by 32% in the dry season, by 47% in the wet season, and by 38% on the average as compared to figures in 2018. Lopez Holdings Corp.
Apart from its famous tourist attractions, the Philippines should make the most of its rich and diverse cuisine to attract...Some local government units and schools in the country have suspended their face-to-face classes due to the threat of scorching...
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