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Manila Bulletin devider Philippines devider National devider For cheaper rice: Romualdez hails PBBM's reduction of imported rice tariff 

For cheaper rice: Romualdez hails PBBM's reduction of imported rice tariff 

Published Jun 5, 2024 03:59 am

At A Glance

  • "Mr. Rice" House Speaker Martin Romualdez has praised President Marcos' move to slash the tariff for imported rice from a hefty 35 percent to just 15 percent. 

IMG-03a19b01eb09b6feeb50ca58ccf432a8-V.jpgHouse Speaker Martin Romualdez (left), President Ferdinand "Bongbong" Marcos Jr. (Speaker’s office)

"Mr. Rice" House Speaker Martin Romualdez has praised President Marcos' move to slash the tariff for imported rice from a hefty 35 percent to just 15 percent.

“The import levy reduction and the direct sale of imported rice by the government through its Kadiwa centers should bring down the retail price of rice substantially, especially for consumers,” Romualdez said in a statement Wednesday morning, June 5.

Through these Kadiwa centers, the government is able to sell to consumers much cheaper rice, which is the staple food of Filipinos.

Romualdez says the effort to reduce rice prices is consistent with the Marcos administration’s goal of making the staple available and affordable.

The leader of the 300-plus strong House of Representatives says rice farmers should not worry about the assistance they receive from government, which are funded from the Rice Competitiveness Enhancement Fund (RCEF). The fund is provided for under Republic Act (RA) No. 11203, or the Rice Tariffication Law.

Romualdez noted that as per official data last month, the RCEF had accumulated P16 billion from import tariff collections.

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“This means that the government has enough funds to help farmers, while it is trying to bring down rice prices through the import tariff cut and direct Kadiwa sales,” he stressed.

The Lakas-Christian Muslim Democrats (Lakas-CMD) president pointed out that the House advocacy of returning the rice importation mandate of the National Food Authority (NFA) is also meant to make rice affordable.

The rice importation mandate bill remains pending in the Senate.

“We should find a long-term solution to the rice price issue,” said Romualdez.

Related Tags

Rice Tariffication Law RCEF Martin Romualdez President Marcos Mr. Rice
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