Planters lose P61.77 billion due to rice price drop

PLANTERS lost at least P61.77 billion due to the continuous drop in the farm-gate price of unhusked rice, which hastened in recent months when imports rose significantly, according to a policy brief prepared by the Philippine Rice Research Institute (PhilRice).

The plight of local planters may even worsen as their losses could balloon to nearly P130 billion if prevailing farm-gate prices will continue to fall below production cost, the PhilRice paper added.

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