MARCOS: CERTIFY RICE TARIFFICATION LAW URGENTLY

It is possible that cheap NFA rice will return to the markets when the Rice Tariffication Law is amended, but according to the Department of Agriculture it is far from returning to its previous price of P27 per kilo.

President Bongbong Marcos himself said that the government needs to influence the sale of rice in the market especially when its price increases. That's what PBBM said why he needs to hurry up or certify as urgent the amendment to the Rice Tariffication Law.

Rice Tariffication Law for high priced rice in the market (Photo courtesy of Grig Montegrande/Inquirer)

"The problem is that the price of rice is increasing because the traders are competing, they will increase the price for buying rice. And we don't have control over that, if there are amendments to the NFA charter and then to the Rice Tariffication Law, we can control the influence we have on the price of buying rice and selling rice."

Under the Rice Tariffication Law, the National Food Authority (NFA) is prohibited from selling rice in the market and directly to consumers. Their mandate is limited to storing rice to be used during calamities.

Currently, P48 per kilo is the cheapest rice that can be bought, based on the Department of Agriculture's Price Monitoring. That's a far cry from the P27 to P32 per kilo of NFA rice before. There is no problem with the DA if NFA rice is returned to the market, but its price may not be as low as before.

NFA rice may sell for only P40 per kilo, "It is also in the study that NFA's expenses from buying, storing, drying, and milling also reach P37 to P39 per kilo. So, this is a win win solution that our department thinks that the NFA will not lose money and at the same time the rice will be cheaper than the market price.”

But for Bantay Rice, P40 is still heavy, "Our people can't really afford PP40 per kilo. At least it could be returned to the P32 per kilo that used to be NFA rice or maybe the one that PBBM caught up at P38 per kilo.”

It is more important to focus on the return of some NFA mandates such as the inspection of private sector rice warehouses and stock monitoring. That is among the DA's recommended amendments to the Congress as well as the importation of the NFA for their buffer stocks. The target is to pass the amendment to the Rice Tariffication Law before Congress breaks at the end of May.

Source: Philippine News Agency

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