House Committee on Ways and Means chairman and Albay Rep. Joey Sarte Salceda on Tuesday called on the Department of Agriculture (DA) to implement a laser-focused approach to rice-related interventions, including the recalibration of the Rice Competitiveness Enhancement Fund (RCEF), but cautioned against an immediate increase in importation.
House Committee on Ways and Means chairman and Albay Rep. Joey Sarte Salceda on Tuesday called on the Department of Agriculture to implement a laser-focused approach to rice-related interventions, including the recalibration of the Rice Competitiveness Enhancement Fund , but cautioned against an immediate increase in importation.
“One takeaway: It’s all about rice. Vegetable prices are down. Corn prices are down. On the aggregate, utility bills are down versus last year. Even sugar prices are down on a year-on-year basis,” he said. “Increasing importation at this time might not necessarily be the correct approach. The first harvest season of the year begins around April. The Indian elections could take place around May, which means the political pressures that underlie the rice export ban in India could ease. So, by June, rice prices could actually stabilize,” he added.
Salceda also stressed the importance of resolving logistics challenges at ports, farm-to-market roads, and potential supply bottlenecks, declaring the next 30 days as crucial and calling for a collective effort from all stakeholders.
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