Senators have expressed differing opinions on the newly approved reduction tariff on rice by the National Economic and Development Authority (NEDA) that has already been approved by President Marcos. NEDA Secretary Arsenio M. Balisacan said that the reduction tariff on rice from 35 percent to 15...
President Marcos' chief economic manager said that despite the global decline in prices, the consistently high local costs of rice remain a key concern. In a statement, Finance Secretary Ralph G. Recto pointed out the substantial price gap of rice between the current market prices and those of last...
The Philippine Statistics Authority (PSA) estimated that the decrease in rice tariffs from 35 percent to 15 percent could potentially reduce rice prices by P6 to P7 per kilo. In a briefing on Wednesday, June 5, PSA Undersecretary Claire Dennis S. Mapa said that these estimates were made taking into...
House of Representatives (Ellson Quismorio/ MANILA BULLETIN) The so-called "Young Guns" of the House of Representatives gave their thumbs up Wednesday, June 5 to Malacañang's decision to drastically reduce the tariff on rice imports...
House 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...
The Department of Agriculture (DA) said it is committed to its goal of producing 20.44 million metric tons of palay this year despite the impact of El Nino. In a statement, Agriculture Undersecretary Chris Morales said that they are optimistic about achieving this target, especially with the...
President Marcos' economic managers maintained that the National Food Authority (NFA) should continue its role in buffer stocking and intervene in the market only during emergencies. National Economic and Development Secretary Arsenio M. Balisacan said that any reforms to the state grains agency...
The reduction tariff on rice from 35 percent to 15 percent and additional government subsidies will lessen the cost of rice to P29 per kilo for the poor, National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said. Balisacan said on Tuesday, June 4, that adjusting the...
Some senators have agreed to temporarily reduce tariff rates on rice even though the government stands to lose “less than P10 billion” in revenues, according to the Department of Finance (DOF). It was mentioned however by Finance Undersecretary Domini Velasquez that while the projected...
House Speaker Martin Romualdez (left), DOF Secretary Ralph Recto (Speaker’s office, Facebook) House Speaker Martin Romualdez has thanked on Wednesday, May 29 Department of Finance (DOF) Secretary Ralph Recto for making good his...
Reducing the tariff on imported rice to 17.5 percent would be more favorable to the consumers and farmers, Finance Secretary Ralph G. Recto said. On the sidelines of the Philippine Economic Briefing on Monday, May 27, Recto said that there should be a balance between the two parties when...
National Economic and Development Authority Secretary Arsenio M. Balisacan said that the reduction of domestic rice prices by 20 percent in September is possible given that world prices will decline. Balisacan referred to the statement by Finance Secretary Ralph G. Recto, noting that external...
