DA explains why rice prices stay high despite low tariffs

Quick Summary:

RICE prices remain elevated due to high world prices and existing inventory of imported staple bought prior to lowering of tariffs.

Rice import arrivals as of August 22 reached 2.72 million metric tons (MMT), according to the Bureau of Plant Industry (BPI).

Rice imports from July 1 to August 22 stood at 376,353.70 metric tons (MT), based on BAI data.

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Article Details

Author / Journalist: Ada Pelonia

Category: BusinessStartups

Markets: PhilippinesIndiaIndonesiaMalaysia

Topics: Kilo Prices Tariffs Rice Stocks Laurel Price Agriculture Secretary World Bought

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 16:08:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 492 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 22299414

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 30 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 11 hours ago

Coverage Areas: Philippines

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