Connect with us

Hi, what are you looking for?

News

P20/kg rice to require budget of ‘at least’ P400 billion

THE Marcos campaign pledge to bring down the price of rice to P20 per kilogram (/kg) is achievable with “full support” from the government, including a budget of about P400 billion to upgrade production, a party-list legislator said on Tuesday.

Magsasaka Party-list Representative Argel Joseph T. Cabatbat added that legislators need to “have faith in Filipino farmers by giving them all the support they need to revitalize rice planting activities.”

President-elect Ferdinand R. Marcos, Jr. campaigned on a promise of P20 rice, though he later called that an “aspirational” target.

“We should not doubt the capability of farmers to produce cheap and quality rice. With enough support, appropriate policy changes, the removal of middlemen or brokers, and the right managers in the Department of Agriculture who are pro-farmer, P20 per kilo of rice is possible,” Mr. Cabatbat said in a statement.

He said such an effort will cost at least P400 billion to fund basic support services and infrastructure.

Increased funding will bring down the cost of production and marketing, he added.

Mr. Cabatbat said he wants to make use of the Agrarian Reform department’s “megafarm” concept and use as a model the Provincial Food Council of Nueva Ecija’s program to increase farmer yields and profits.

Mr. Cabatbat also called for a review of the Rice Tariffication Law, which liberalized rice imports.

“We depend too much on other countries for our food. We are not aware that it is killing the agricultural sector and the economy because we are dependent,” he said. 

Agriculture Secretary William D. Dar has said he expects the next administration to raise spending on the agriculture sector and raise his department’s budgets accordingly. — Alyssa Nicole O. Tan

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories...

News

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories...

News

source: https://bit.ly/2GswBI6 ING BANK N.V.-Manila will leave the Philippine retail banking market before 2022 ends, just about three years after its foray into the...

Editor’s Pick

Autonomous warehouse robot maker BotsAndUs has secured $13m (£10.6m) in a seed round led by Swiss venture capital firm Lakestar. London-based BotsAndUs will use...

Editor’s Pick

Porsche Ventures has invested $1.5m (£1.2m) into British cycling insurance provider Laka as part of a wider $13.5m (£10.9m) Series A funding round. Headquartered...

Editor’s Pick

Netflix has announced another round of job cuts as it grapples with slowing growth and increased competition. The streaming giant said it was cutting...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Financial Advisors

The healthcare ecosystem is one that has thrived on the cusp of scientific progress, benefitting enormously from the winds of change in the technological...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.