Gov Marcos: ‘Electronic rice exchange’ to help farmers earn more
Ilocos Norte Governor Imee Marcos is eyeing an “electronic rice exchange” will help farmers earn more.
The Ilocos Norte politiko said farmers will be able to find the best prices for their produce as well as the best prices for post-harvest, marketing, transportation, and distribution through the rice exchange.
“Tourists visiting Ilocos Norte have been using mobile apps to book the flights, bus rides, and hotels. Using basically the same concept and process, we can do the same for our rice farmers. We already have the wholesale electricity spot market in the energy sector. Again, essentially the same concept and process but applied to the rice sector,” Marcos said.
She explained that her proposal will lessen rice traders’ influence on the price of rice.
“We can learn from the experience of other countries’ rice spot and commodity markets. We can learn from Japan, India and Thailand. The Asian Development Bank already had a pre-feasibility study done on a rice futures market for ASEAN,” Marcos said.
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