Gov’t confident on downtrend in rice prices, measures to ease food inflation in place
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NewsTranscript
00:00A peso or two at a time, the slow but sure pace of the drop in rice prices as a result of government's tariff-slashing policy on imported staple grains.
00:10And there is quiet yet growing optimism from the president and his team on a sustained fall in rice prices over the long haul that jibe with the government's rice price projections that our Kenneth Paciente details in this report.
00:25It's a great relief for Jean that the price of rice she buys has decreased, even if it's just a little. If before it cost 58 pesos, she now bought it for 57 pesos.
00:41This relief experienced by consumers like Jean is what President Ferdinand R. Marcos Jr. wants to continue.
00:47In a sectoral meeting in Malacañang led by the chief executive, he emphasized that the government is confident that the decrease in rice prices will be felt even more.
00:56According to the president, it is highly likely price projections for rice in the country will be reached, especially since it is not far from the price trend in Southeast Asia.
01:06Therefore, the president is confident that the burden felt by many Filipinos regarding rice prices will ease even more.
01:12The government assures measures to ease food inflation, especially rice, will continue to be implemented.
01:18This includes extending the Rice Competitive Enhancement Fund or RSF until 2030, which will make it possible for farmers to receive farm input vouchers that they can exchange for their needs.
01:29This also includes speeding up the unloading of imported rice.
01:33According to the Presidential Communications Office, the cost of imported rice fell by 15 percent or 7 pesos per kilo due to the Executive Order No. 62 signed by President Marcos Jr. recently.
01:54The president has also ordered to focus on the price of pork by accelerating the rollout of the vaccine against African Swine Fever.
02:01Likewise, focus on sugar through local cane supply and mitigating the effects of armyworm infestation.