Skip to main content

Rice prices seen to drop by at least P7 due to rice tariffication law.

Image result for Rice prices seen to drop by at least P7 due to rice tariffication law
Photo from PTVNews
MANILA – The prices of rice are expected to decrease by P2 to P7 per kilo following the signing of the rice tariffication law by President Rodrigo R. Duterte, the Department of Finance (DOF) said on Tuesday.
“The implementation of the rice tariffication law is vital to the national interest and it should be done as soon as possible,” DOF Assistant Secretary Tony Lambino said in the weekly economic briefing in Malacañang.
Lambino allayed the fears of farmers’ groups that the new law will be disadvantageous to them.
“Ang gusto po nating gawin (What we want to do) is through rice tariffication iyong makakalap po nating taripa ay para sa mga magsasaka lamang at iyan po ay naka-earmark po based on the law (tariffs collected are solely for farmers and it will be earmarked based on the law),” he said.
Lambino expressed confidence that local farmers will be able to compete internationally following the signing of the law.
He cited data from the National Economic Development Authority that showed 57 provinces are rice growing and have the potential to be internationally competitive adding some areas are already competitive.
“Because of better productivity and the use of technology and agricultural sciences ay makakalaban po ang maraming lugar sa Pilipinas na rice growing (many rice-growing places in the Philippines can compete),” he said.
Aside from lowering the prices of rice in the country, Lambino said the law’s passage is also seen to lower inflation significantly by 0.6 percentage point based on estimates from the Bangko Sentral ng Pilipinas.
Lambino said the tariffication of rice in the country has been delayed for more than 20 years already.
“Dalawang extension na po ang binigay sa atin (We have already been given two extensions), based on our international commitments to the WTO. So since 1996 ay humingi na po tayo ng (we have been asking for) special treatment for rice and we have been saying that we will improve productivity before we tariffy,” Lambino said.
“So we are now fulfilling our international commitment para po (so that) we are true to our word and also, so that we do not run the risk that other countries will retaliate in terms of tariffs on other Filipino products. So we really needed to do this,” he added.
Lambino said the National Food Authority (NFA), which previously had the monopoly in importing rice, will restructure and handle emergency buffer stocking under the new rice tariffication law.
Duterte signed the rice tariffication bill into law last Friday.
The signing will result in a switch from the current quota system in importing rice to a tariff system, where rice can be imported more freely.
Source and Original Article from: >>> PTVNews

Comments

Post a Comment
Related Posts Plugin for WordPress, Blogger...

Popular posts from this blog

The 4 Amazing Health Benefits of Saluyot Leaves.

Saluyot, photo from  YouTube Illness prevention and cure do not need to be expensive. Most Filipinos opt to take herbal medicines first before indulging with costly medicines with or without doctor’s advice. The vegetables we often find in the market are not just there as plainly ingredients but also a source of vitamins and minerals. One is saluyot. What Is Saluyot? Corchorus olitorious or saluyot has many health benefits. It is used for food consumption because of its high nutritional value. It is considered as a health booster. This leafy veggie belongs to the Malvaceae family and grows on tropical areas. This herbal plant carries vitamins and minerals. It is an abundant source of vitamin A, C, E, calcium, iron, and dietary fibers. Saluyot, photo from  Tagalog Lang Amazing Benefits of Saluyot  Promotes good eyesight Saluyot has beta-carotene content which promotes good eyesight. Its richness in vitamin A will help you prevent or avoid ...
Post a Comment
Read more

PMA Alumnus Reveals Shocking Story about Trillanes Family: “Nilustay ng kanyang tatay ang pera ng AFP”

Photo from Facebook A first hand comment was shared by Commodore Vicente Cejoco, AFP, PMA class 1982-2013 Outstanding Filipino Soldiers Awardee (TOPS), an was posted by Ernesto Aquino on his Facebook account. According to Cejoco, Trillanes was one of the students he handled at PMA (Philippine Military Academy) as an Engineering instructor. He also added that the class of Trillanes belonged to the last PMA cadets he handled. Back when Vicente was still the Commander of PMA COMMEL(Communication and Electronics) Company and the  COMMEL Staff officer of General Rodolfo “Pong” Gaspar Biazon, he recalled Antonio’s father, who was the Assistant J-6/ Deputy Chief COMMEL AFP,  was being tagged as Dumbguard Trillanes IV to his office after asking the PMA Commandants to release him.  During the company level punishments or “mase-mass”, Cejoco said that Trillanes Sr. still had the guts to eat in his office while his mistahs were dying in the  hallways of Melc...
Post a Comment
Read more

PhD thesis details Ninoy Aquino’s collaboration with Communist Party/NPA

First of a series on the Scalice revelations THE Yellows’ martyr Benigno ‘Ninoy’ Aquino, Jr. was crucial in the founding and growth of the Communist Party of the Philippines and the New People’s Army (CPP-NPA). Aquino, until his arrest when martial was declared in 1972, supported the CPP-NPA as one of his weapons to topple his arch-enemy Ferdinand Marcos. This is among the many explosive conclusions and details of a 2017 PhD dissertation by Joseph Scalice at the University of California, Berkeley, entitled  Crisis of Revolutionary Leadership: Martial Law and the Communist Parties of the Philippines, 1957-1974. The 800-page thesis is replete with encyclopedic information not just on the old pro-Soviet  Partido Komunista ng Pilipinas  (PKP) and Jose Ma. Sison’s pro-China Communist Party of the Philippines (CPP). Scalice reveals surprising details on political figures of that era that would shock the Yellows and the Reds. Scalice appears to have sp...
Post a Comment
Read more