Farmers group reveals P68B lost in 2019; requests review of Rice Tariffication Law
A study conducted by the Federation of Free Farmers (FFF) revealed that there is an estimated P68 billion total losses for 2019 in palay production, with the implementation of Rice Tariffication Law and price reduction of local rice by 2-3 pesos in regular milled rice and well-milled rice.
Raul Montemayor, the national manager of FFF, said that the loss for the local farmers boils down to the massive rice importations that happened in 2019 after the Rice Tariffication Law was enacted.
According to reports, Philippines imported an estimated three million tons of rice, making it the 2019 largest rice importer.
“You cannot brush off what has happened so far as simple ‘birth pains’ and ask farmers to suffer a little bit more before the law takes effect.” Montemayor pointed out ,”The farmers have already lost billions of pesos, and the consumers have not gained the benefits promised to them.”
FFF called for the law’s early amendment and review to help local farmers adjust to the effects of Rice Tariffication Law.