Rice tariffication puts PH food security at risk—IBON

Features Philippines Mar 8, 2019 at 4:18 pm

IBON.org

RiceIBON Executive Editor Rosario Bella Guzman said that non-quota tariff rice importation undermines the food security principles of supply stability and affordability. She said that in face of world market volatility, a fluctuating peso-dollar exchange rate and impending El Nino, government should seek to stabilize prices and the economy.

Government will soon release the implementing rules and regulations of the new Rice Tariffication Law, which it expects to bolster local rice supply and produce revenues to enhance the rice industry.

Guzman said that rice tariffication will affect local rice farmers who will not be able to compete with  cheap subsidized imports. “Government says it will cull Php10 billion a year from tariff revenues to support the local rice industry. But that’s only US$190 million versus Vietnam’s US$1 billion and Thailand’s US$7 billion in annual subsidies to their rice farmers,” said Guzman.

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