Price of Rice: Should it be Dropped?

The Philippine government is close to achieving the aspiration of lowering the price
of rice to P20 per kilo, according to President Marcos (2022). It was the approach for the cost
of necessities that are getting higher due to external forces. His program is also for rice from
the NFA agency. Even if the said price can help people with the inflation problem of the
Philippines, it should be restrained.
Marcos' idea would cause massive losses for the government. The budget needed is
financially high, which is not achievable since our country is not yet economically viable for
this (Pinol, 2022). But the Kadiwa ng Pasko project aims to provide a market for the
country's local agricultural producers. However, it is still insufficient due to the market's
current situation (Estrella III, 2022). Agriculture Secretary William Dar stated that the
government needed an additional budget for the NFA, and the capital expenditure must also
be considered. Therefore, an economic downturn will happen, causing a financial crisis in
almost all regions of the country.
This approach takes time and effort. Although the President said this is almost possible, it
still can’t be applied to most local rice. During the launch, Dar added that it is a slow process
since there are still things to be done. It still needs a thorough inventory of rice harvests in the
country (Gutierrez, 2022). Local production of inbred and hybrid rice must be significantly
raised to reach the desired ₱20 a kilo in six years. Due to the external factors that triggered
inflation, the ₱20 rice program is still far achievable (Flores, 2022). The Rice Tariffication
Law, which permitted unrestricted rice importation in the nation, must be the Department of
Agriculture's (DA) main target for revitalization efforts of the local rice industry (Kilusang
Magbubukid ng Pilipinas, 2021). Huge expenses are expected for this since it is a long
process, and our country also needs financial support in other fields, not only in economics
and agriculture. Hence, this is not an immediate aspiration for all types of rice.
Farmers would have lower profits due to the ₱20 rice program. However, beneficiaries would
be ecstatic. Even if the government might provide a fixed budget to increase profit, it is still
not enough. Some people in the agricultural sector doubted the approach due to the frequent
rising cost of production, transportation, and other commodities (CNN Philippines, 2022).
They are concerned since several items are required to process rice, affecting a large portion
of their earnings (GMA News Online, 2022). Dar also has statements regarding this matter.
He pointed out that agricultural inputs are not yet possible for rice farmers due to financial
needs. The Central Luzon farmers plea for higher rice support from the government to help
ease the rising cost of production, fuel prices, and farming equipment (Balbin, 2022). They
are being squeezed by hefty oil and fertilizer prices and by low rice prices caused by
ongoing importation and the start of the main harvest (Montemayor, 2021). Thus, people
would buy NFA rice more, forcing local farmers to lower their prices or even stop selling
local rice.
According to the presented arguments, the P20 rice approach has a good point. People would
benefit from it since the prices of almost all necessities are still increasing. These can lower
their expenses which can contribute to their budget deficit problems. However, the
government is not yet ready for the massive losses and how time-consuming it is. Local
farmers' income and supplies would also go downhill, knowing that the equipment and
materials used are affected by inflation. To have a country with better economic performance,
the government should assess the agricultural inputs and the current market situation of all
aspects of our economy.
 Rayl Grace Bedayos
10-RIgel

ENGLISH
Argumentative Essay

Should the
price of rice be
dropped?

Performance Task 4