Philippines Considers Rice Floor Price to Aid Farmers

President Marcos Studies Floor Price for Rice Amidst Farmer Distress Filipino farmers are struggling due to low rice prices offered by traders. The government, led by President Bongbong Marcos, is actively considering implementing a floor price mechanism to alleviate this issue. This measure aims to guarantee a minimum price for farmers' rice, preventing losses and ensuring their livelihoods. The initiative follows reports of farmers receiving as little as ₱11-₱16 per kilo of harvested rice. Agriculture Secretary Francisco Paolo Ping Lacson stated, "We are studying the implementation of a floor price to ensure that farmers are not left at a loss." This sentiment was echoed by National Food Authority administrator Larry Domingo, who highlighted the importance of fair prices for local farmers. The government's plan involves purchasing rice from farmers at a minimum price of ₱19-₱24 per kilo, bolstering the agricultural sector and ensuring food security for the nation. The NFA currently has over 8 million sacks of rice in storage, underscoring the government's commitment to stabilizing the market and supporting farmers.