DA: P20/kilo rice market price now out of reach
The Philippine Department of Agriculture has admitted that the campaign promise of P20 per kilo of rice is currently unattainable without government subsidies. Rising global costs for fertilizer and fuel have made the target price unsustainable for the market.
Why it matters
This highlights the gap between political campaign promises and the realities of global commodity price volatility.
MANILA, Philippines - The P20-per-kilo market price for rice promised by President Marcos during his 2022 campaign is now out of reach as rising fertilizer, transport and fuel costs continue to drive up rice production expenses, according to the Department of Agriculture.
DA Secretary Francisco Tiu Laurel Jr. said Thursday that government subsidies would be needed to make rice at P20 a kilo available.
"We really can't reach P20 per kilo for rice, we will have to subsidize it," Tiu Laurel said over One News' "Storycon."
He said urea prices, which were around P700 per sack when Marcos made the promise, have risen to almost P2,600.
"In today's global situation, I don't really think so because everything has gone up," Tiu Laurel said. "Now, it's almost P2,600, so it's the fertilizer that's actually the problem, and we cannot control it."
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in