Defining the News
MARKET CHECK. Speaker Ferdinand Martin G. Romualdez shakes the hand of a rice stall owner when he did the rounds of three Metro Manila public markets on Wednesday upon the invitation of Philippine Rice Industry Stakeholders’ Movement . Norman CruzSpeaker Martin G. Romualdez on Wednesday welcomed the decline in the prices of rice after confirming the availability of rice selling by as low as P42 per kilo during a visit to three key markets in Metro Manila Wednesday morning.
“We saw that there is P45 per kilo, there is also P42 for broken rice, the well-milled P45. And that’s really what we want to see, which is the price of rice going down,” he said. “The factor we saw here is the drop in the tariff from 35 percent to 15 percent. So our retailers are happy as well as our consumers,” he added.
In addition to the decisive action of President Marcos on rice tariff, Romualdez also cited the initiatives of the House leadership, including collaboration with rice traders, as a factor in the drop in the price of the staple food. “The Marcos administration is committed to implementing long-term solutions, such as increasing domestic rice production, improving import regulations, and penalizing those involved in illegal trade practices,” Romualdez said.
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