STATEMENT ON PRESIDENT’S DECISION TO MAINTAIN RICE LIBERALIZATION

Rice Liberalization

23 November 2019

Makati Business Club supports the decision of President Duterte and his economic managers to maintain the rice liberalization policy even as they help farmers by improving mitigation measures and investigating reports of hoarding. We and other business groups are ready to assist the government with those.

Together with other business groups, we applauded the administration’s success in enacting the long-advocated Rice Tariffication Law earlier this year, benefitting most Filipinos with prices dropping as much as 20 percent. We will seek ways to help the rice farmers who have experienced its negative effects.