Watch more on iWantTFC Instead of imposing price caps, the government should make sure that the National Food Authority has sufficient buffer stocks of rice to "smoothen" prices, former Finance Undersecretary Cielo Magno said on Thursday.
Magno said this would have been a better way to keep rice prices down than forcing retailers to sell at lower prices, which has unintended consequences. "Kailangan may foresight sila in making sure that we have the quantity." But a more long term solution to rice problems is for the government to strengthen the country's rice industry, Magno said.
Magno suggested that the government make the rice sector and the grain itself "more resilient" and ensure that local rice production is stable."It is not just a short-term approach in addressing rice but making sure we have sufficient supply," she said as she welcomed the lifting of the rice price cap.