Gov't launches nationwide rice price monitoring

The government launched a nationwide price monitoring program to see the effects of the reduced tariff on rice.

According to a Saturday “24 Oras Weekend” report, the program would be spearheaded by the Department of Trade and Industry and the Department of Agriculture.

The price watch will cover retail markets, grocery stores, and wet markets.

The DTI assured that prices would be strictly monitored.  All information they would get from the program will be used by policymakers to ensure an adequate rice supply.

President Ferdinand "Bongbong" Marcos Jr. issued Executive Order No. 62 last June which modified the import duty rates of various commodities to temper inflationary pressure and protect the purchasing power of Filipinos.

The National Irrigation Administration said earlier in the day that it would need at least P200 billion yearly for its irrigation projects to ensure food security in the country. — Vince Angelo Ferreras/DVM, GMA Integrated News