Rice prices seen to increase

Local farmers yesterday warned the government of an increase in rice prices as the measure on unlimited rice importation is expected to be enacted into law.

The Federation of Free Farmers cautioned President Duterte on signing the rice tariffication bill, saying it would make the government “inutile in responding to price spikes in the future.”

The measure was submitted to the Office of the President last month. It will lapse into law if not acted upon by Feb. 17.

Aside from removing volume restrictions and imposing tariffs on rice imports, the bill removes the powers of the National Food Authority in regulating the rice industry.