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Why is the government seemingly helpless in the face of rice traders, hoarders, and cartels? Is the administration protecting these unscrupulous rice industry actors to some extent?
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It continued: “rice prices remain elevated emphasizing that in December 2024, the price levels…were respectively 19 percent and 20 percent higher compared to the period before the spikes in July 2023.” Specifically, section 6 of the new law provides that, “The DA Secretary, upon the recommendation of the National Price Coordinating Council , shall declare a food security emergency on rice due to supply shortage or extraordinary increase in prices.”
First, the NFA’s rice buffer stock is not as large as Marcos thinks. It now stands at about 300,000 metric tons, and agriculture officials say they’ll need to releaseBut my colleague Fermin Adriano, an agricultural economist and former agriculture undersecretary, commented that 300,000 metric tons distributed nationwide will last at mostSecond, the government already projects that releasing the NFA’s buffer stock will result in at leastworth of losses.
Third, consumers and producers are unlikely to be elated by the NFA’s market intervention. Consumers will be sold a mix of regular, aging, and about-to-age rice — so the quality of rice they’ll be able to buy at a low priceMeanwhile, some retailers are already dreading the lower prices from the NFA, because they will likely be outcompeted and suffer losses — especially since rice prices are already on the downtrend.
If Marcos seriously went after these opportunistic middlemen , then the government would not have to declare a food security emergency and suffer the accompanying unintended outcomes. Instead of doing his homework, Marcos lazily resorted to giving the NFA more power to intervene during “emergencies.”
Department Of Agriculture Ferdinand Marcos Jr. Marcos Jr. Administration National Food Authority Philippine Economy Rice Tariffication Law Thought Leaders Editors' Pick Philippine News Voices
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