Marcos optimistic rice prices will ease further

President Marcos yesterday expressed confidence that rice prices in the Philippines would continue to go down, just like the trend being seen in neighboring countries.

- ALEXIS ROMERO

During a sectoral meeting that tackled inflation outlook and management strategies at Malacañang, Marcos said the price of the food staple in the country appears to be following the government's projection.

'And it seems to be consistent again with the same experience of other ASEAN countries like Thailand and Vietnam," the President said.

"So, I think as the time goes on, that should improve," he added.

In a statement, the Presidential Communications Office said rice prices in Vietnam and Thailand have eased, with the landed cost of the imported food staple declining by 15 percent or about P7 per kilogram as of mid-September, following the implementation of lower tariffs under Executive Order No. 62. The order slashed rice tariff from 35 percent to 15 percent effective July 8.