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The Department of Agriculture (DA) would recommend adjusting rice tariffs when retail prices hit P42 to P45 per kilo.

“Siguro [kapag umabot ng] P42 to P45 per kilo, somewhere there, then pwede nang i-review at i-recommend,” Agriculture Secretary Francisco Tiu Laurel Jr. told reporters during a Palace briefing on Monday.

“It can be from 15 [percent] to 20 or 15 to 25 or full 35 depende na sa sitwasyon, depende sa consultations with everybody,” he added.

The Executive Order (EO) 62, which slashed rice tariffs to 15 percent until 2028, provides that the tariff scheme be subjected to a periodic review every four months from its effectivity.

The National Economic and Development Authority (Neda) is set to review the comprehensive and/or specific MFN (Most Favored Nation) tariff rates listed under EO 62 again by March.

LGUs sell NFA rice

Meanwhile, Laurel said that local government units (LGUs) could begin selling rice from the National Food Authority (NFA) by next week, noting that over 50 have signified their intent.

“Sa ngayon, marami nang LGUs nag-signify ng intent but […] lumalabas kasi na sa procedure, may documentation na kailangan gawin,” Laurel said.

“So, hopefully matapos lahat ng documentations between NFA to FTI [Food Terminal Incorporated], FTI to LGUs and by next week maro-rollout na hopefully yan,” he added.

The DA recently declared a food security emergency on rice, allowing it to release rice buffer stocks held by the grains agency.

The NFA would release these stocks at P33 per kilo and sold by the DA through the FTI to LGUs, Kadiwa stores, and government entities, where consumers would purchase them at P35 per kilo.

The grains agency plans to release 150,000 metric tons (MT) of rice in six months, which is 50 percent of its current 300,000 MT buffer stock stored in warehouses.

According to NFA Administrator Larry Lacson, the allocation would depend on the NFA stocks in warehouses near the respective LGUs and the area with the highest recorded retail rice prices.

“First consideration is the stocks in the NFA warehouse na malapit sa kanila or nakakasakop sa kanila. So, kung ano yung volume na pwede dun paghahati-hatiin namin sila,” Lacson told reporters via phone call on Monday.

“Kapag kunwari, 10 LGU ‘yan in one nasasakupan na region, kung saan yung pinakamataas, doon namin bibigyan ng mas maraming allocation kesa sa iba,” he added.

Retail prices of imported rice in Metro Manila markets range from P44 to P45 per kilo for well-milled and P38 to P46 per kilo for regular milled, based on based on the latest government price monitoring report.

Local rice ranged between P40 and P53 per kilo for well-milled while P38 and P45 per kilo for regular milled, DA’s monitoring report showed.

Source : businessmirror