Imee Marcos to Duterte: Implement short-term solutions to mitigate plunge in palay prices


Senator Imee Marcos called on the Duterte administration to implement some short-term solutions to mitigate the decrease in the farmgate price of palay.

The price of palay has plunged to as low as P7 per kilo compared to the average P12.

The Ilocos Norte politiko said the situation is not hopeless.

Marcos cited how Singapore prevents rice traders from manipulating prices by cornering 25% of private rice imports when smuggling is detected and buying them at cost with a 5% margin.

She also said the Department of Agriculture also has a calamity measure known as the Quick Response Fund that can be tapped to buy palay from local farmers and triple the government’s “currently inadequate” rice buffer stock good only for 30 days.

“We can save our rice farmers if we could just be thorough in our tasks, work hard, and get things done ASAP,” Marcos said.

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