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July 2024

SINAG questions why rice prices have not yet declined

By GMA Integrated News

Farmers group Samahang Industriya ng Agrikultura (SINAG) over the weekend questioned why rice prices have yet to decline despite the government ordering the modification of import duty rates.

According to SINAG President Rosendo So, their monitoring showed that prices of well-milled rice range from P43 to P44 per kilogram, while regular milled rice was priced at P42 per kilogram.

“Ang tinataka  natin, ‘yung retail price bakit hindi bumababa pa (We are wondering why retail prices have yet to go down),” said So in a report by  Vonne Aquino on GMA’s “24 Oras Weekend” on Sunday.

Department of Agriculture (DA) monitoring showed that prices of rice in  Metro Manila ranged from P47 to P65 per kilogram for imported commercial rice, and from P45 to P65 per kilogram for local commercial rice on June 27, 2024, based on the variety.

This comes as President Ferdinand “Bongbong” Marcos Jr., under Executive  Order 62, lowered tariff rates for rice to 15% until 2028 from the previous 35%.

“Every time na bumababa tayo ng taripa, ang gagawin lang ng exporting country is itataas nila ‘yung presyo nila doon,” So said.

“‘Yung subsidy na dapat ay makolekta ng taripa papunta sa ating mga magsasaka  eh ang mangyayari, kung itinaas nila ‘yung presyo sa exporting,  advantageous doon sa mga magsasaka ng other countries,” he added.

(Every time we lower tariffs, the exporting countries increase their prices. The subsidy that is supposed to be collected from tariffs should go to our local farmers. What will happen is the exporting countries increase  prices, which is advantageous for their  farmers.)

GMA Integrated News is still seeking the DA’s comment on the matter. — Jon Viktor Cabuenas/DVM, GMA Integrated News QR Code

Published Date: June 30, 2024

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