The Philippine Rice Import Decision Has Produced the Domestic Price Response That Rice Import Decisions Produce

The Government's Decision to Allow Additional Rice Imports to Manage Domestic Prices Has Moved the Rice Price and the Farmers' and Consumers' Interests in Opposite Directions Simultaneously

Bohiney Magazine | The London Prat

MANILA / CENTRAL LUZON, PHILIPPINES

The Philippine government's decision to allow additional rice imports to manage domestic prices has produced the specific economic outcome that import liberalisation in agricultural commodities consistently produces: the consumer price has declined, the domestic producer price has declined further, and the rice farmers in Central Luzon and the Cagayan Valley who are facing the lower farm gate price are expressing the response that affected agricultural producers express when import policy prioritises consumer welfare over farm income. Both the consumer benefit and the producer cost are real outcomes of the same policy decision. More at prat.uk.

The political economy of rice in the Philippines is the political economy of the country's most consumed staple food: the consumer votes and the farmer votes are both electorally significant and their interests in rice pricing point in opposite directions. The decision has been made. The economics have responded. More at prat.uk.

SOURCE: Global Satire

Philippines: NewsThump

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