A senior lawmaker of the House of Representatives on Monday expressed optimism that rice prices will drop further next year following President Ferdinand Marcos Jr.’s enactment of Republic Act (RA) No. 12078, or Agricultural Tariffication Act. Camarines Sur Rep.
A senior lawmaker of the House of Representatives on Monday expressed optimism that rice prices will drop further next year following President Ferdinand Marcos Jr.’s enactment of Republic Act No. 12078, or Agricultural Tariffication Act.
According to Villafuerte, RA 12078 empowers the Department of Agriculture to purchase additional rice stocks and sell them directly to consumers through Kadiwa outlets and other government channels. This move is expected to exert downward pressure on retail prices, making rice more affordable, especially for low-income households.
Under the DA’s P29 program, the NFA sells rice at P29 a kilo to vulnerable sectors such as senior citizens, persons with disabilities , and Pantawid Pamilyang Pilipino Program beneficiary families, while its RFA program involves the sale of higher-quality rice to other consumers at the current P40 a kilo .
He noted that as the 2019 RTL stripped the NFA of its original authority to acquire a critical volume of rice, this food agency has lost its capability to directly and actively intervene in the local market whenever retail costs are high because it does not have enough stocks in its warehouses at any given time to be able to influence, much less dictate, prices in the domestic market when private businessmen keep market rates high.
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