Recto Predicts Lower Rice Prices in the Coming Months

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Finance Secretary Ralph Recto announced that the government anticipates a decrease in rice prices in the coming months.


In a report, Recto attributed the expected price drop to the reduction of tariffs on imported rice. He also emphasized the government's commitment to providing increased support to local farmers.


Recto called for an extension for the completion of ongoing agricultural projects, such as irrigation and dam construction, to boost rice production further. 


Additionally, he mentioned that the government is working on resolving the country's supply chain issues.


Recto highlighted that the budget allocated to the Agriculture Department has doubled compared to its 2022 allocation. The Philippine Statistics Authority also projected a significant reduction in the retail prices of rice this month.


Read: VP Sara Duterte Criticizes Government: "Filipinos Deserve Better"


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