Areas where growing rice is cheap
The National Economic and Development Authority (NEDA) identified 39 rice-growing areas that will benefit from a new 35% tariff imposed on rice imports. Under this new tariff scheme, rice from these areas will be 4 pesos cheaper than imported Thai or Vietnamese rice.
NEDA says these areas can supply 73 percent of the national demand, with the potential to provide more with greater use of hybrid seeds and better farm management practices.
Socioeconomic Planning Secretary Ernesto M. Pernia says that revenue from the new tariff scheme can be invested in domestic agriculture industries, with the hopes of bringing it up to par with its ASEAN counterparts.
