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The government decided to propose that the National Food Authority be given the right to import rice and to maintain a buffer stock to assure that the price of rice can be kept more stable.
WORKERS in the agriculture sector are questioning the appointment of fishing tycoon Francisco Tiu Laurel as the new Agriculture chief, raising concerns about corporate plantations flourishing in the country.
Contrary to President Ferdinand Marcos Jr.'s statement that retail prices of the staple has stabilized from the imposition of the price cap, the Kilusang Magbubukid ng Pilipinas (KMP) said that rice prices remain 'expensive.'
THE Land Bank of the Philippines (LandBank) has released P2.2 billion in loans to rice farmers and cooperatives as of the end of July in an effort to boost local rice production in the country.
![[In This Economy] Bogeymen spawned by Marcos' rice price caps - Vimarsana News](https://www.rappler.com/tachyon/2023/09/tl-price-cap.jpg)
There have been lots of confused statements about the rationale for the price caps, as well as ways of moving forward. Current discussions have created bogeymen out of thin air.