Gov’t intends to bring rice price down to P29/kilo for the poor

MANILA, Philippines — The government aims to reduce rice prices to P29 per kilo for the poor, said National Economic and Development Authority (Neda) Secretary Arsenio Balisacan on Tuesday.

In a Palace briefing, Balisacan said this would not be the general pricing, but only for programs such as the Pantawid Pamilyang Pilipino Program (4Ps).

READ: DSWD to work on adjustment of 4Ps grants

Balisacan said the reduced rice tariffs could eventually lower the prices of the staple in local markets to as low as P29 per kilo. However, he clarified that this was only for the 4Ps.

“Ang P29 na sinasabi natin, iyan iyong target na cost ng rice sa mga poor, those who are targeted for the 4Ps. So, it’s not a general price. Kasi ang concern natin is, those who are least able to cope with the rice price, dapat matulungan ng gobyeno,” said Balisacan.

(The P29 that we are talking about is the target cost of rice for the poor, those who are targeted for the 4Ps. So, it’s not a general price. Because our concern is those who are least able to cope with the rice price (increases), they must be helped by the government.)

READ: Marcos approves cut in rice tariff to 15%

Under the new Comprehensive Tariff Program for 2024-2028, President Ferdinand Marcos Jr. lowered the tariff on rice imports to 15 percent from 35 percent.

“We are at least aiming for, the Department of Agriculture is aiming for a reduction of  (rice price) to P29 per kilo, at least for the poor, because we will complement this tariff reduction with the direct subsidies to the poor and vulnerable so that at least they could access the food, the P29 pesos per kilo,” Balisacan said.