Increased rice imports may still boost farmers' competitiveness fund

MANILA, Philippines — Greater importation of milled rice encouraged by tariff cuts can offset expected forgone revenues, auguring well for the Rice Competitiveness Enhancement Fund (RCEF) which is funded by the tariff revenues, according to Finance Secretary Ralph Recto. “That’s a possibility. However, what is important is to reduce rice prices to benefit consumers, especially low-income Filipinos,” Recto said in a text message on Friday. In a report released by the US Department of Agriculture’s (USDA) Foreign Agricultural Service, the Philippines’ rice imports are expected to reach 4.6 million metric tons (MT) for the year, making the country the largest […]...Keep on reading: Increased rice imports may still boost farmers' competitiveness fund

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