Lower House solons met rice retailers, supermarket owners to discuss recent lowering of imported rice tariffs to ensure its effects is felt by consumers
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00:00 The new and reduced tariff rate on imported rice is a 57% slash from its previous mark.
00:06 But then, NEDA chief Arsenio Balisacan cautioned not to expect a substantial discount on retail rice prices
00:14 once the new discounted amounts kick in.
00:16 Hence, how Speaker Martin Romualdez made it clear today,
00:20 the discounts at the retail level should be felt by consumers, as our Clayzel Pardilia reports.
00:28 House Speaker Martin Romualdez, alongside fellow members of Congress and government agencies,
00:34 convened with rice retailers and supermarket owners to discuss the recently approved lower tariffs on imported rice.
00:42 The primary aim of the meeting was to ensure coordinated efforts to pass on the benefits of reduced tariffs to consumers.
00:50 We just want to make sure that we are all on the same page, that we are coordinated.
00:55 The reduction in tariffs will lower the price of imported rice, and will make consumers happy.
01:05 Supermarket owners pledged their commitment to Speaker Romualdez to sell affordable rice in their establishments.
01:11 They want support and they want to sell the rice at government prices, at Kadima prices.
01:18 They're ready. The stocks allow the inventory.
01:22 So that's to be specific. We have a commitment to them.
01:27 So if I'm happy earlier...
01:29 It's anticipated that the effects of cheaper imported rice will be felt before President Ferdinand R. Marcos Jr.'s
01:36 State of the Nation address or even sooner.
01:39 As for the savings, lawmakers explained...
01:43 That 5 to 6 pesos at the current exchange rate, at 58 pesos per one.
01:49 So if the dollar goes down, then it will go up.
01:53 We want this to be felt as soon as possible.
01:56 According to the Grains Retailers Confederation of the Philippines,
02:00 many importers stockpiled rice in anticipation of lean harvest periods.
02:05 Therefore, they are appealing for a grace period to sell off the imported rice purchased at higher prices to avoid losses.
02:15 We were able to buy 35 pesos.
02:18 On the other hand, our local dealers were able to buy 29 to 30 pesos of rice.
02:27 So meaning, at a high price, they're holding the lead.
02:32 The ones who are ahead of the big ones are affected.
02:36 So what we're seeing is that the ones who have stocks can be given leeway.
02:44 At least they can be sold.
02:46 Download that. There's a tariff reduction.
02:49 Buy cheaper ones because there's savings.
02:53 So just average it.
02:55 Of course, they're still resisting.
02:58 But it's not for us. It's for everyone.
03:02 In a joint statement, 17 farmer groups condemned the lower tariffs on rice and other products scheduled to be implemented until 2028.
03:12 They claim that only importers and traders profit from lower tariffs while farmers and local producers bear the losses.
03:20 They'll give a peso to the consumer.
03:23 They'll give a peso to the importers, wholesalers, all the way to retail.
03:30 They'll be the ones who benefit from it, not the consumer.
03:34 But the farmer will be killed because the price of his rice will fall.
03:39 House Speaker Romualdis clarified that tariffs could be adjusted depending on market conditions.
03:45 Congress also pledged to closely monitor hoarders and those who will take advantage and maliciously manipulate rice supply and prices.
03:54 Que leys al pardilla for the new and better republic.