Rice prices still not hitting P27/kilo as projected under tariffication law

Some farmers are already selling palay at a loss, but consumers have yet to enjoy significantly lower rice prices

MANILA, Philippines – The government's economic team projected that rice prices would drop to as low as P27 per kilo due to the rice tariffication law effectively liberalizing the market. They have not.

Data from the Philippine Statistics Authority showed that regular milled rice retails at P38.4 per kilo, while well milled rice is priced at P43.5 per kilo, as of the 2nd week of August.

This is a significant drop from last year's prices, but still not low enough as expected.

Socioeconomic Planning Secretary Ernesto Pernia previously said there was no need for cheap rice from the National Food Authority because of the competitive market environment. (READ: Piñol to economic team: Get out of air-conditioned offices, see reality)

Read more https://www.rappler.com/business/239354-rice-still-not-hitting-projected-price-under-tariffication-law-september-2019

Rivas, R. (2019). Rice prices still not hitting P27/kilo as projected under tariffication law. Rappler.com. Retrieved from https://www.rappler.com/business/239354-rice-still-not-hitting-projected-price-under-tariffication-law-september-2019