The national government is currently weighing options for beefing up the supply of rice and other key commodities after a series of typhoons struck the Philippines and the recent weakening of its currency. In a briefing in Malacañang on Thursday, Socioeconomic Planning Secretary Arsenio M.
The national government is currently weighing options for beefing up the supply of rice and other key commodities after a series of typhoons struck the Philippines and the recent weakening of its currency.
He also said interventions that the government can implement, especially when it comes to its food staple, are limited to the short-term. On Thursday, the peso closed at P58.711 to the US dollar. This was an improvement from the P58.71 close on Wednesday. Agriculture Secretary Francisco P. Tiu Laurel Jr. said the sale of the Kadiwa Rice-for-All program comes in response to the disparity of reduced tariffs on imported rice and the unusually high prices at the retail level.
For local well-milled rice, the price is P50 per kilo while regular milled is P42 per kilo, government data showed. The wider Rice-for-All rollout will be undertaken by DA in coordination with various government agencies. Balisacan said the Neda will submit its report on the review of the lower rice tariffs to the President today, Friday.
The DOF said this on Tuesday as the October inflation print increased to 2.3 percent from 1.9 percent in September. The reminder is meant to ensure that the lower rice tariffs will help all Filipinos.
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