House Speaker Martin Romualdez announced on Monday plans to bring down rice prices to as low as P30 per kilo in certain regions by July, collaborating with the Department of Agriculture (DA) to achieve this target.
“We are confident that it is possible to offer rice below P30 per kilo as early as July this year. The Department of Agriculture is currently identifying the areas where affordable, well-milled rice will be made available to the public,” Romualdez stated.
Romualdez’s statement comes following President Ferdinand Marcos Jr.’s expressed intention to accelerate amendments to the Rice Tariffication Law.
“While we may not achieve this nationwide immediately, we can kickstart in selected areas pinpointed by the Department of Agriculture. We aspire for this initiative to eventually extend nationwide, particularly following the amendment of the Rice Tariffication Law,” Romualdez elaborated.
Romualdez highlighted that the National Food Authority (NFA) could play a significant role in providing rice at reduced prices through KADIWA centers.
House leaders are aiming to pass amendments to the RTL within three weeks. The current RTL limits the National Food Authority’s role to ensuring buffer stocks for emergencies, rather than selling rice directly to public markets.
The Department of Agriculture’s latest price monitoring report as of April 27 indicates that the cheapest rice available in the market is local commercial rice at P49.44 per kilo, which is significantly higher than the House’s target.
The recent surge in rice prices has contributed to inflationary pressures in recent months.