![[In This Economy] Bogeymen spawned by Marcos’ rice price caps](https://i.headtopics.com/images/2023/9/19/rapplerdotcom/in-this-economy-bogeymen-spawned-by-marcos-rice-pr-in-this-economy-bogeymen-spawned-by-marcos-rice-pr-18B925EA348B979755620B2C57B51CCA.webp)
There have been lots of confused statements about the rationale for the price caps, as well as ways of moving forward. Current discussions have created bogeymen out of thin air.
But the question is, where are these alleged rice cartels? Till now, there’s no sufficient proof that they exist. They’re collectively a bogeyman created to justify the rice price ceilings.shows that some regions exert significant market power in rice. But that’s not the same as saying cartels exist.rather than less, hoarding and smuggling.
In early August, the Department of Agriculture said that the government foresees imports later this year to the tune of. But there’s still room to increase this. Said one agriculture undersecretary, “I think we need the help of the private sector in situations like these.” The concerns are totally valid. But note that even with the current tariff rate, Marcos’ price ceilings are already causing losses among farmers, who are forced to sell their palay cheaply to traders; some are even choosing to exit altogether.
The last thing we want is to walk back reforms and go back to the old system, where the NFA’s monopoly and its import quotas proved disastrous in the rice sector. deflation
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