'You have to strike a balance between the farmers and the consumers,' he told reporters on Monday at the sidelines of the Philippine Economic Briefing.'It's better if it favors both sides ... could be 20 percent.'President Ferdinand Marcos Jr. in December approved an extension of lower tariffs on rice, pork and corn to the end of this year as the country continues to grapple with inflation.The most favored nation rate for rice currently stands at 35 percent.
He warned, however, that it would also 'lower farmgate prices for palay farmers due to greater competition from cheaper rice imports.'Agriculture Department officials were not immediately available for comment. The Federation of Free Farmers , however, said the move would make the country more dependent on rice imports.