TRAIN won't hit rice prices
- Carlo Canlas
- Jan 17, 2018
- 1 min read
The newly implemented Tax Reform for Acceleration and Inclusion (TRAIN) law will not affect the rice prices in the market, National Food Authority Officials say.
NFA Spokesperson Rebecca Olarte said that the supply is sufficient so there must be no price adjustment. She added that TRAIN law is not enough reason to initiate a rice price hike.
"Movements in the market prices are also dictated by other factors including supply and demand," NFA Negros Province Manager Marianito Bejemino.
He added that prices of rice will not increase, but cost of transportation will.
NFA Administrator Jason Aquino said NFA rice will stick to its current prices.
NFA assured the public that regular milled rice which costs Php. 27.00 per kilogram and Php. 32.00 per kg. for well-milled rice will remain the same.
“As watchdog of national food security, the NFA’s role is to make rice, our basic staple, available, accessible and affordable in any part of the country at all times,” Aquino said.
The agency released the statement to allay public's doubts that rice prices nay increase following the added excise tax in fuel prices.
Aquino warned traders who will take advantage and will unduly increase prices. He also pleaded to the public to help the agency monitor traders who will do overpricing.
"The NFA implements rice trading rule and regulations, therefore we can sanction any traders who will be violating our laws," Aquino added.