RETAIL prices of rice could go down by almost P7 a kilo in the next few months following the government's approval of lower import tariffs, the Department of Agriculture (DA) said on Wednesday.
RETAIL prices of rice could go down by almost P7 a kilo in the next few months following the government's approval of lower import tariffs, the Department of Agriculture said on Wednesday.'The potential price reduction will be between P6 P7 per kilo in rice,' Agriculture Assistant Secretary and spokesman Arnel de Mesa said of the impact of a National Economic and Development Authority Board decision to slash rice duties to 15 percent from 35 percent.
The average price of rice in Metro Manila markets was at P49 to P60 per kilo as of late last month.On Tuesday, Socioeconomic Planning Secretary Arsenio Balisacan said the government was looking to lower rice prices to P29 per kilo.The P29 per kilo goal will be 'at least for the poor, because we will complement this tariff reduction with the direct subsidies to the poor and vulnerable... but overall, with the tariff reduction from 35 to 15 percent, everybody will benefit from that...
Price Drop Seen 'Between P6-P7/Kilo'
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