The farming industry said a liberal import regime for sugar could result in a repeat of the hardships endured by rice farmers when that commodity was subjected to tariffication. READ:
THE farming industry said a liberal import regime for sugar could result in a repeat of the hardships endured by rice farmers when that commodity was subjected to tarif“I have a few reservations . The worry here is we might be jumping from the frying pan into the fire. What is happening now looks like a replay of what happened to rice in 2018.
In compensation for exposing farmers to foreign competition, the law set up the Rice Competitiveness Enhancement Fund, which gets P10 billion a year from tariffs to support farm mechanization, credit assistance, and seed development, among others. Mr. Medalla said that tariffs are a “transparent and efficient” scheme compared with import allocations decided by bureaucrats.
Mr. Montemayor said that the priority should be directed towards investing in modernization and providing subsidies to offset high input costs.
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