Gov’t Launches Nationwide Rice Price Monitoring Program

The government has initiated a nationwide price monitoring program to assess the impact of reduced tariffs on rice. This initiative, reported by “24 Oras Weekend,” is being led by the Department of Trade and Industry (DTI) and the Department of Agriculture (DA).

Comprehensive Monitoring

The program will encompass retail markets, grocery stores, and wet markets to ensure comprehensive monitoring of rice prices. The DTI has assured strict supervision of prices, with the data collected being utilized by policymakers to guarantee an adequate rice supply.

Executive Order No. 62

President Ferdinand “Bongbong” Marcos Jr. issued Executive Order No. 62 in June, modifying import duty rates on various commodities to mitigate inflation and protect the purchasing power of Filipinos.

Related Developments

• Rice Self-Sufficiency Goal: The Marcos administration aims for rice self-sufficiency by the end of its term, according to Speaker Romualdez.
• Affordable Rice: The DA has announced that rice priced at P29 per kilo will be available in the Visayas and Mindanao regions by late August or early September.
• Price Concerns: The Samahang Industriya ng Agrikultura (SINAG) has questioned why rice prices have not yet declined despite policy measures.

Ensuring Food Security

The National Irrigation Administration highlighted the need for at least P200 billion annually for irrigation projects to secure food stability.