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