Rice prices in Cebu City have increased by up to ?130 per sack within a week after the national government ordered a 60-day suspension of rice...
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- PHILSTAR.COM - Freeman - 08/Aug 16:00
60-day pause of rice imports
Earlier this week, President Marcos “ordered a 60-day suspension of all rice importation starting September 1 to shield local farmers from falling palay prices during the ongoing harvest season.” Forthwith, apprehensions of possible hike in inflation rose. Sec. Balisacan of the Department of Economy, Planning and Development (DepDev), however, allayed these fears citing “sufficient domestic supply, declining global prices and a strong harvest outlook.”
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