00:00 The Department of Agriculture admitted that the price of rice cannot be lower than 20 pesos per kilo for the next two years.
00:09 The high price of the oil product is still possible for the next months.
00:15 My report, Tina Panganiban Perez.
00:18 40 pesos is the cheapest rice in the store of Weng Bonifacio in Marikina City.
00:26 However, it is not for the consumption of people.
00:29 Dog's milk rice has a smell and it has a smell.
00:34 But in the hard life, there are people who are complaining about it.
00:38 They have no choice, they cannot buy cheap rice.
00:41 That's why people eat it.
00:43 In the monitoring of the Department of Agriculture, the cheapest rice is 41 pesos per kilo.
00:50 The DA said that there is no problem in the supply of rice even if some of the baguio are already flavored.
00:57 If so, why is rice expensive?
01:00 It's being influenced by the global prices which has spiked over time.
01:07 And also local prices, farm grade prices which has also risen over the last year.
01:16 Primarily from the input cost prices.
01:20 Some congressmen think that the price of rice is dictated by the cartel.
01:27 The DA also asked if the promise of President Marcos of 20 pesos per kilo of rice is possible.
01:34 Within the next two years, is it possible to produce 20 pesos per kilo of rice?
01:40 Next two years?
01:41 Next two years.
01:42 It might be difficult.
01:43 To be honest, we never discussed about those things that you are asking Mr. Chairman of the President.
01:49 Yes, reduction that is included but not the 20 pesos Mr. Chairman.
01:54 The high price of rice, along with the weekly rise in the price of oil,
02:00 is a calamity.
02:02 It seems that it will not end.
02:04 The projection of SP Global Plots is going straight from July to December.
02:12 We have a chance for it to change. It is just the decrease of demand.
02:19 According to the DOE, the global demand for oil is increasing every four months
02:25 because it needs heating while it is cold in many countries.
02:29 The Organization of Petroleum Exporting Countries and Russia reduced up to 2 million barrels per day of production.
02:38 According to the DBM, there is a 3 billion pesos budget for the fuel subsidy of public utility vehicles.
02:45 But the Joint Memorandum Circular is still being discussed to release the funds.
02:50 I hope we can release it immediately if there is a requirement for the GAA.
02:56 The PASANG MAZDA, ALTODAP and ACTO have already filed a petition for 5 pesos per additional passenger
03:04 for the first four kilometers and one peso per extra kilometer.
03:08 While there is no request, they hope to give a one-peso provisional increase.
03:13 The LTFRB said that it will lower the demand for high passenger prices.
03:20 Tina Panganiban Perez, Nagbabalita, for GMA Integrated News.
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