Rice tariff cuts fail to translate to lower prices, sparking calls for accountability

Quick Summary:

The sharp increase in rice inflation to 9.6 percent in October has sparked concerns that lower rice tariffs are not benefiting Filipino consumers as intended.

Despite the government’s decision to lower rice tariffs, the intended relief has not been fully realized, prompting the Department of Finance (DOF) to call for greater accountability from rice traders in passing on these benefits to the public.(Read the BusinessMirror story, "DOF to rice traders: Let people feel low tariffs,” November 6, 2024).

The government’s swift response to the recent disasters, including the implementation of a price freeze on basic necessities and the allocation of insurance claims to affected farmers, signifies a proactive stance in addressing the current challenges.

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Article Details

Author / Journalist: BusinessMirror Editorial

Category: BusinessStartups

Markets: PhilippinesIndia

Topics: Opinion Editorial

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 16:02:00 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 538 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 26 words per sentence (average)

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

Copyright Owner: © Business Mirror

News ID: 23463822

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 53 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 11 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #37

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