Marcos wants floor price for palay

The Marcos administration is planning to issue an executive order (EO) setting a floor price for the buying of palay and implementing a law designed to boost farmers' productivity and promote agricultural enterprises.

- By ALEXIS ROMERO

President Marcos ordered the establishment of palay floor price and the full implementation of the Sagip Saka Act of 2019 during a meeting lawmakers and executive officials at Malacañang.

In a statement, the Presidential Communications Office (PCO) said Marcos instructed the Department of Agriculture (DA) to coordinate with the Office of the Executive Secretary and the office of Sen. Francis Pangilinan to draft an executive order setting the palay buying floor price.

The directive was meant to protect farmers from unscrupulous traders during the harvest season.

The President acknowledged that while the rice retail prices are going down, farmers continue to suffer as traders buy palay at a very low cost.

Pangilinan suggested establishing a floor price for buying palay and engaging local governments in palay procurement through the Sagip Saka Act.