House to continue helping PBBM keep food prices down

By Jose Cielito Reganit, Philippine News Agency

FILE: Fresh vegetables are sold at the Kadiwa stall in the Liwasang Bayan in Cainta, Rizal on Friday (Jan. 6, 2023). (PNA photo by Joey O. Razon)

MANILA – Speaker Ferdinand Martin G. Romualdez vowed on Friday that the House of Representatives would continue helping President Ferdinand R. Marcos Jr. to ensure that food products are accessible and affordable.

Romualdez made the commitment in reaction to the report of the Philippine Statistics Authority that inflation last month eased to 1.9 percent from 3.3 percent in August and 4.4 percent in July.

The September rate was the lowest in four years.

“The intervention measures taken by the government under the leadership of President Marcos Jr. are now yielding positive results,” Romualdez said in a statement.

He specifically cited the President’s decision to drastically cut the rice import tariff from 35 percent to just 15 percent, and the direct sale of rice to the public through Kadiwa stores.

“These twin steps have significantly reduced the retail price of rice, from above PHP50 to PHP60 per kilo, to PHP40 to PHP42 per kilo, or by at least 20 percent,” he said.

He also cited the President’s flagship programs — the Bagong Pilipinas Serbisyo Fair (BPSF) and Presidential Assistance to Farmers, Fisherfolk and Families (PAFFF) — that has visited 24 areas so far all over the Philippines, granting more than PHP10 billion in government services and cash aid that benefited over 2.5 million Filipino families.

Aside from the cash aid, distributed in BPSFs’ services, like employment requirements to help citizens get jobs or seek livelihood, are also offered.

“When people have jobs and livelihood, it benefits not only the local economy but that of the whole country as well,” he noted.

Romualdez said the House would contribute to taming inflation by exercising its oversight power through the five-committee panel created to look into reports of smuggling, hoarding, price manipulation, and other practices in restraint of trade.

The joint panel would also check on the enforcement of the recently signed Republic Act (RA) No. 12022, or the Anti-Agricultural Economic Sabotage Act, which aims to make food items more affordable and make life better for farmers.

Gov’t actions helped realize single-digit rice inflation

Meanwhile, the Department of Agriculture (DA) echoed Romualdez’s remarks that various government actions helped realize single-digit rice inflation last month.

In an interview over Bagong Pilipinas Ngayon, DA Assistant Secretary Arnel De Mesa said the reduced tariffs on imported rice under Executive Order 62, and other programs, such as the P29 and Rice for All, have factored in reducing inflation.

P29 refers to the sale of aging but good quality stocks of National Food Authority (NFA) rice at PHP29 per kg. to senior citizens and vulnerable sectors of society, while Rice for All provides the general public with a mix of local and imported well-milled rice at PHP45 per kg.

“Pinapalakas pa rin natin lalo iyong ating productivity. So, itong mga combined na actions na ito ay nakakatulong para lalo pang bumaba iyong presyo sa merkado (We are also boosting our productivity. So, all of these combined actions helped reduce the market prices [of rice]),” he said.

De Mesa said Filipinos may expect even lower rice prices in the coming months due to lower tariffs on imported rice (Executive Order 62) and the peak palay (unhusked rice) harvest for the wet season this October.

“Posible pang bumaba talaga iyan dahil makita nga natin itong mga twin effects nitong EO 62, pagbaba ng taripa, itong Indian easing ng restrictions at ngayon sumabay pa iyong ating harvest, nag-start na (It’s really possible for rice to be cheaper because there are the twin effects of the EO 62 or the tariff cut, India’s easing of restrictions, and now the onset of the harvest),” he said, citing October as the peak harvest season.

On Sept. 28, the government of India lifted the export ban on non-basmati white rice, with the floor price set at USD490 per metric ton, lower than the international prevailing price of more than USD500 per MT.

House Appropriations Committee Chairman Zaldy Co, meanwhile, said that the Marcos administration’s whole-of-government approach has stabilized prices and made goods more affordable for Filipinos.

He noted that these short-term measures should be complemented with long-term strategies, particularly the President’s legacy projects on food security, to boost local agricultural production.

“We must prioritize strengthening food security by supporting our farmers. Congress is prepared to pass necessary legislation and allocated needed funds to help our agricultural sector thrive,” Co said in a separate statement.

He also echoed National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan’s call for increased investment in agricultural infrastructure.

Co emphasized the importance of improving irrigation systems, building post-harvest facilities, and providing farmers access to high-quality seeds and modern technology. (With a report from Stephanie Sevillano/PNA)