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According to an economist, if the tariff rate cut on rice is implemented successfully in the Philippines, the country’s current inflation rate may quickly go down and may even help enhance overall economic growth.

The price of rice in the Philippines is currently high but according to Finance Secretary Ralph Recto, the government already has a strategy in mind and Filipinos can expect the prices to go down around September.

In the Philippines, the House of Representatives approved the amendments to the Rice Tariffication Law. The bill seeks to purchase unhusked rice from farmers at a high price and sell it to consumers at a lower price.

The United States Department of Agriculture projected that the Philippines will remain as the top rice importer in the world in 2025, predicting a number even higher than the expected 4.1 million metric tons.

Rice farming is one of the largest sources of methane. While a solution exists to address the issue, farmers aren’t to keen on applying it. Rize, a startup based in Singapore, aims to fix this.

Rice prices have lowered and gone steady compared to last year. However, according to a senior executive at a commodity trader firm, the market can still face difficulties due to unpredictable weather.

Professor Jinkee Hong of Yonsei University in Seoul and his team of researchers have developed beef rice by growing beef cells in rice grains. Hong’s team aims to present beef rice as a sustainable and affordable source of protein.

Farmers in Arkansas began the rice planting season earlier than normal. While doing so has a couple of benefits, there could be challenges awaiting the farmers during the growing season.

Rice ending stocks for 2023/24 increased by 2 million, according to the USDA. The world rice ending stocks increased as well, due to slower domestic demand. Meanwhile, ending stocks for cotton remain steady.

The Department of Agriculture chief stated in a briefing that despite the effects of El Niño, rice production in the Philippines will increase for the first quarter. He also assured the continuous procurement of rice buffer stock.