MANILA, Philippines Local farmers are losing as much as P95 billion with the implementation of the rice import liberalization law.
MANILA, Philippines Local farmers are losing as much as P95 billion with the implementation of the rice import liberalization law.
The Philippine Chamber of Agriculture and Food Inc. (PCAFI) said the Rice Tariffication Law has so far stripped farmers of P95 billion in income as the influx of cheap rice from other countries has pulled down rice prices.
At the prevailing farmgate price of palay (unhusked rice) which declined by around P5 per kilogram, Filipino farmers are deprived by as much as P95 billion in income. It is based on the country’s local palay production of 19 million metric tons annually, said Frisco Malabanan, a member of PCAFI and technical advisor at SL Agritech.
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