Affordable rice
PBBM’s campaign promise is to make the price of staple rice available and affordable up to P20, a moving target and still an aspiration.
According to a report from the United States Department of Agriculture in January of this year, the Philippines is projected to remain the world’s top rice importer, expected to import a record 3.8 million tons in 2024.
The country is trailed by China, Indonesia, the European Union, Nigeria and Iraq.
However, Malacañang, particularly the Department of Agriculture, said they are doing their best to lessen the imports of rice into the country, erasing the country’s moniker as the world’s top rice importer.
Only on Wednesday, Speaker Martin Romualdez credited the administration of President Marcos Jr. for the significant decline in rice prices, after seeing that a grains store in Metro Manila is selling rice priced at P42 per kilo, during his visit to three key markets in Metro Manila.
Romualdez attributed the reduction to the government’s efforts to stabilize rice prices and ensure affordability for consumers, particularly the move to cut the duties on imported rice.
Starting on 5 July, tariffs on rice imports were reduced from 35 percent to 15 percent under Executive Order (EO) 62, signed by the President.
Romualdez visited Guadalupe Market in Makati City, as well as Nepa-Q Mart and Farmers Market in Quezon City upon the invitation of the Philippine Rice Industry Stakeholders’ Movement (PRISM), the Department of Trade and Industry and the Department of Agriculture.
“On behalf of the House of Representatives, we welcome this positive development. This is truly in line with the Marcos administration’s commitment to ensuring that food, particularly rice, remains affordable and accessible for all Filipinos,” he added.