Farmers group fears cost of rice will be ‘prohibitive’ if NFA will sell it
IMPORTED RICE Workers unload sacks of rice from the Vietnam cargo ship in the port of Tabaco, Albay. (INQUIRER file photo / EDWIN BACASMAS)
MANILA, Philippines — A farmers’ advocacy group asked lawmakers on Thursday to study proposals to allow the public sale of National Food Authority (NFA) rice.
According to Federation of Free Farmers (FFF) National Manager Raul Montemayor, the proposal may harm local farmers in the country.
READ: Marcos to certify bill amending rice tariff law as urgent
“The intention to stabilize rice prices is good, especially for poor Filipinos. But the cost of doing this might become prohibitive,” said Montemayor.
He explained that selling cheap rice can cause traders to lower their buying prices to compete with the NFA rice sales.
Article continues after this advertisement“If the NFA sells rice at Php 10 below the market price, local traders will have to lower their palay buying price by Php 6 per kilo in order to compete with the NFA,” he said.
Article continues after this advertisement“Moreover, instead of distributing rice, it might be more efficient to issue vouchers, which beneficiaries can use to purchase rice from accredited outlets,” he suggested.
READ: Rice tariffication law amendments will enable NFA to stabilize prices – solon
On Monday, President Ferdinand “Bongbong” Marcos Jr. said he will certify a measure seeking to amend the Rice Tariffication Law as urgent to lower the prices of rice in the market.
