Despite EO 62, rice price dip slow—Neda

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Despite EO 62, rice price dip slow—Neda - Business Mirror

Quick Summary:

DESPITE implementation of Executive Order (EO) 62 which reduced the tariff for rice to 15 percent, the National Economic and Development Authority (Neda) said the pace of the decline in the prices of the staple is still "slow.

Rice and other cereals and cereal products are still among the main contributors to food inflation as of July, according to PSA.

The said prices improved to P52.60 per kg (well-milled) and P49.09 per kg (regular milled) in July, before the price for well-milled rice slightly rose to P53.04 per kg.