Senator Francis Escudero said in his interview that the price of imported rice per kilo will reach P50/kilo. The current cost of rice is P31.29/kilo and with the 50% tariff the price of rice will reach P49.8.
Recently, the government calls on rice traders to "moderate their greed" or lessen their profit so that the average Filipino can still afford to buy a kilo of rice. But with the current news, it is impossible for traders to moderate their greed if prices are unreachable by consumers, they would possibly reduce their profit or just breakeven.
For more news details, visit: http://www.yehey.com/news/Article.aspx?id=209160
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