Five House panels set to probe high food cost

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Five House panels set to probe high food cost - Business Mirror

Quick Summary:

THE House of Representatives leadership on Thursday vowed to take decisive action to lower the prices of essential commodities, especially food items, amid growing concerns over their high costs despite declining farmgate and global market prices, as it also warned that anyone found responsible for manipulating commodity prices will face price manipulation or smuggling charges.

In response to these price discrepancies, the Murang Pagkain Supercommittee will summon top rice importers next week to address the issue.“The landed price of imported rice has declined to about P36, all tariffs and fees included.

Considering current farmgate prices, domestically milled rice should also be at around P35-36 per kilo.