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NewsTranscript
00:00Some congressmen are urging to review Executive Order 62 that reduces the price of imported rice by 15 percent from 35 percent.
00:10It came out in the hearing of the Quinta Committee.
00:13In the House of Representatives, the expected price of rice is 7 to 10 pesos less.
00:20According to the congressmen, the price of rice should be between 41 to 44 pesos per kilo.
00:26But according to the price monitoring of the Department of Agriculture,
00:29as of November 23, the price of rice is up to 63 pesos per kilo.
00:34According to the Bureau of Plant Industry, there are more rice importers but not all supplies are exported to the market.
00:42They are explaining to their fellow importers.
00:47It should be reviewed and reversed because it seems useless to lower the tariff.
00:53Who benefits from the tariff reduction?
00:57Is it the importer or is it the consumer?
01:01Of course, it is the importers who benefit, sir.
01:07At the President's Expo yesterday, the DA said they will target to open more than 200 Kadiwa Stores in 2025.
01:16At Kadiwa Stores, 29 pesos per kilo of rice can be bought but it is only sold to the poor and senior citizens.
01:23It is hard to do this for all the families because according to the DA,
01:2750 billion pesos is needed every year to reduce the price of rice by 29 pesos per kilo.
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