DAGUPAN CITY – The price of local and imported rice in the market across the country has remained high despite the tariff reductions implemented this year.
In an interview with Bombo Radyo Dagupan, Leonardo Montemayor, Chairman of the Federation of Free Farmers, said that there has been no decline in the price of rice, both local and imported.
The group foresees that rice prices will remain at 50 pesos per kilo or higher in the coming months.
According to Montemayor, the government’s decision to lower tariffs on imported rice has only led to higher selling prices due to the increasing demand for the product, with Vietnam supplying approximately 85% of the imported rice in the country.
He also noted that consumers have not benefited from the tariff reduction, while the Bureau of Customs has lost potential tax revenue, which could have been used to fund aid for farmers.
Montemayor clarified that the lowered tariffs, combined with reduced harvests caused by typhoons and floods, could contribute to maintaining high rice prices in the markets in the coming months.
Smugglers illegally bringing rice into the country are also being blamed for this situation.
Meanwhile, their group has expressed support for the government’s intent to focus on the group’s proposal for stricter implementation of the law.
