MANILA, Philippines — Sen. Manny Pacquiao on Monday called on the Senate to conduct an inquiry into the problems plaguing the rice industry supposedly caused by the rice tariffication law, as well as the use of public funds that were supposed to cushion the impact of the law on the livelihood of the country’s rice farmers.
In Senate Resolution No. 554, Pacquiao lamented reports that the farm-gate price of palay in various parts of the country had plummeted to as low as P7 per kilo, which was mainly blamed on rice imports supposedly flooding the market because of Republic Act No. 11203.
Before the law, the farm-gate price of palay averaged P21.39 per kilo, but quickly dropped to P17.88 per kilo when imported rice started flooding the market, the senator said. The law lifted quantitative restrictions on rice imports and replaced it with tariffs.
—Melvin Gascon