P20 rice seen possible late in Marcos term; to require massive investment - BusinessWorld Online

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PRESIDENT-ELECT Ferdinand R. Marcos, Jr.’s campaign promise to lowering the price of rice to P20/kilo can be accomplished later in his presidency, but will require production and subsidies to ramp up dramatically, farm industry officials and analysts said.

cient because of crop failures brought about by typhoons… is possible within his six-year term,” Roy S. Kempis, retired Pampanga State Agricultural University professor, said in an e-mail.

On Monday, the President-elect announced that he would be heading the Department of Agriculture for the time being, signaling his intent to follow through on agriculture-related campaign promises with an international food crisis looming. Mr. Ricafort added that bringing down prices might be difficult due to the global supply chain disruptions as a result of the pandemic and the Russia-Ukraine war.

“We need more production to attain sufficiency, and this is possible, but not instant… there is room for the possibility that Mr. Marcos’ promise can happen, but this has to be aided by some government subsidy in the buying price of palay. This subsidy is going to be the government’s expense and the National Food Authority may incur more debt,” he added.

“Agri-fisheries will be the major focus of the administration. We expect him to mobilize the powers and resources of the Presidency to revive and strengthen our long neglected sector. Our main wish is that will place full trust and confidence in the willingness and capability of our farmers and other stakeholders to provide food and jobs for our people,” Leonardo Q. Montemayor, chairman of the Federation of Free Farmers, said in a statement.

“The present leadership is ready to brief the President-elect at his most convenient time, and we assure him of our strong support and cooperation, as we truly want him to succeed,” he added, noting that a transition report was ready for the next administration.

 

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