“Since demand for food usually spikes in December, we anticipate seeing a more substantial drop in rice prices by January,” he said.
He assured the public that the benefits of EO 62 will be felt starting October 2024 as the importers still have many stocks in the warehouses before the effectivity of the EO on July 7.
Economic managers have vowed that EO 62 will result in a P7 per kilo drop in the cost of rice.
EO 62 lowers the tariff on imported rice from the previous rate of 35 percent to 15 percent.
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Esta historia es de la edición September 19, 2024 de The Philippine Star.
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