DTI, DA monitor rice prices post-tariff cut

The government has launched a nationwide rice price monitoring initiative to assess the impact of reduced tariffs on rice across various markets.

The Department of Trade and Industry (DTI) and the Department of Agriculture (DA) are collaborating on this extensive monitoring, covering retail markets, grocery stores, and wet markets.

President Ferdinand Marcos Jr.'s Executive Order 62, issued in June, lowered the tariff on rice from 35% to 15%, aiming to stabilize supply and pricing.

Trade Secretary Alfredo Pascual emphasized that these data-driven reports will guide policymakers' decisions to maintain stable rice prices and distribution.

The National Price Coordinating Council (NPCC), chaired by Pascual, is composed of key department secretaries and sector representatives working to control the prices of essential goods.