Marcos studies rice floor price to aid farmers, ensure affordability

President Ferdinand R. Marcos Jr. is studying the implementation of a rice 'floor price' to ensure farmers earn income and prepare for the next planting season.

The proposed measure is inspired by the existing floor pricing system for tobacco in Ilocos Norte, where prices never drop below a set minimum.

Marcos emphasized the need to balance keeping rice affordable for consumers while protecting farmers from losses due to fluctuating market prices.

Unstable rice prices hinder effective planning and long-term sustainability for both farmers and the government.

During a visit to the National Food Authority warehouse in San Ildefonso, Bulacan, Marcos engaged directly with farmers to discuss these challenges and potential solutions.

The government is currently purchasing fresh palay and dried palay at P19 and P24 per kilo, respectively, which is higher than the P13 to P14 per kilo offered by traders.