DOMESTIC prices are expected to stabilize by September following the government's move to reduce import duties on rice, a Cabinet official said on Monday.
DOMESTIC prices are expected to stabilize by Sept ember following the government's move to reduce import duties on rice, a Cabinet official said on Monday.'All we can say is very clearly that, if you reduce the tariff, you temper the increases in the prices,' Socioeconomic Planning Secretary Arsenio Balisacan told reporters.'If the forecasters, the world, and the futures market are correct ...
Farmers groups have criticized the tariff cuts, saying it would also lower farmer incomes and only benefit importers. They have also called on Balisacan to resign.The NEDA chief, in a statement, said that the decision 'was not made lightly.''We are aware of the concerns raised by our farmers ... we understand the apprehensions and emotions that this decision has caused,' he said.
Prices To Stabilize In Sept Following Tariff Cuts
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