The Department of Finance (DOF) has forecasted a potential P5 per kilogram decrease in the average price of rice by August, attributing this drop to reduced import tariffs. Finance Secretary Ralph G. Recto said on Monday, July 8, that by lowering the tariff on imported rice from 35 percent to...
Prices of most agricultural commodities posted a decline during the last week of June, according to a report from the Philippine Statistics Authority (PSA). Based on its national price situationer for the second phase of June, the PSA reported that four agricultural goods declined during the period...
(MANILA BULLETIN) House Speaker Martin Romualdez assured the public Monday, June 24 that the effects of the rice imports tariff slash would soon be felt, possibly before President Marcos' third State of the Nation Address (SONA) on July 22. "We want...
The Philippine Statistics Authority (PSA) reported that rice and corn production is expected to decrease in the third quarter of this year. As of May, palay or rice production is estimated to drop by 8.4 percent to 3.89 million metric tons between April and June from 4.25 million MT in the same...
House Speaker Martin Romualdez (Ellson Quismorio/ MANILA BULLETIN) The Bangko Sentral ng Pilipinas (BSP) can help maximize the expected reduction on retail prices of rice by keeping the peso at "reasonable levels" against the United States (US) dollar. This was...
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...
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...
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...
President Marcos has urged Congress to allow the National Food Authority (NFA) to import rice as doing so would lead to the stabilization of rice prices. President Ferdinand ‘Bongbong’ Marcos Jr. (Malacañang photo) Marcos said this as the government works to amend the Rice Tariffication Law...
President Marcos believes that the government has already found the best solution to lower the price of rice in the market amid plans to certify as urgent the proposed amendments to the Rice Tariffication Law (RTL). President Ferdinand ‘Bongbong’ Marcos Jr. (Malacañang photo) In an interview...
House of Representatives (Ellson Quismorio/ MANILA BULLETIN) The House of Representatives has approved on second reading a measure seeking to amend Republic Act (RA) No. 11203, or the Rice Tariffication Law (RTL), in a bid to lower rice...
Senator Imee Marcos (Senate PRIB) Senator Imee Marcos is batting for government-to-government importation of rice bypassing the National Food Authority (NFA) amid what she described as the current "rice emergency" that the country is...
