AGRICULTURE Secretary Francisco Tiu Laurel Jr. has announced a likely price reduction for rice sold under the Rice-for-All program.
Under the program, the price of the cereal is expected to drop by P1 per kilogram (kg) from P43 to P42 per kilo, in line with the recent tariff cut and global price trends.
“This price reduction for the Rice-for-All program is a result of the combined impact of lower tariffs and global rice prices. However, the depreciation of the peso to P58 per US dollar, from P48 at the beginning of the year, has partially offset these benefits,” Tiu-Laurel said.
He indicated that the price for the Rice-for-All program may decrease further in the future, depending on ongoing global price trends and exchange rate fluctuations.
The reduced price applies to the Rice-for-All program, which is available to all consumers without limitations.
A separate program offers P29 per kilo rice exclusively to vulnerable sectors such as senior citizens, persons with disabilities, solo parents, and indigents.
The P29 program allows individuals to purchase a maximum of 10 kilos per month.
President Marcos’ decision to reduce the tariff on imported rice from 35 percent to 15 percent effective July was meant to lower the overall cost of rice, a staple food for Filipinos.
Rice is a significant portion of the average Filipino’s food budget. Approximately P10 out of every P100 spent goes to rice. For the bottom 30 percent of income households, which includes farmers and fisherfolk, this figure rises to around P20 out of every P100.
