Keeping the price of rice reasonable and steadyThe government decided to propose that the National Food Authority (NFA) be given the right to import rice and to maintain a buffer stock to assure that the price of rice can be kept more stable. This is the essence of old-style rice price stabilization. The fact is that domestic rice agriculture has not been able to keep in pace with population growth. It is the plan to help assure consumers of rice that they would have a low domestic price. As long as domestic price stabilization is based on reasonable, not unsustainable, price targets, most economists would agree that the reforms undertaken under the rice tariffication law are sufficient.

Source: Philippine Star May 28, 2024 16:47 UTC