President Marcos Orders Floor Price for Palay
President Ferdinand Marcos Jr. has directed the establishment of a floor price for the buying of palay to protect farmers from exploitative traders during the harvest season. This decisive move aims to provide a safety net for Filipino farmers, ensuring fair compensation for their hard work.
During a recent meeting with Department of Agriculture (DA) officials at Malacañang, the President emphasized the urgency of implementing this floor price. He instructed the DA to coordinate closely with relevant agencies to develop a system that would prevent price manipulation and secure farmers’ livelihoods.
Protecting Farmers from Unfair Trade Practices
Local leaders noted that setting a floor price is crucial amid growing concerns about unscrupulous traders who take advantage of farmers, especially during peak harvest periods. This policy aims to stabilize the market and guarantee a minimum income for rice producers.
Officials reported that the DA is currently consulting with various stakeholders, including farmer groups and traders, to ensure that the floor price reflects the true cost of production while remaining sustainable for the market.
Coordinated Efforts to Implement the Floor Price
Community members said the government’s coordinated approach involves multiple agencies to enforce the floor price effectively. This includes monitoring buying stations and ensuring compliance through regular inspections.
Moreover, the President called for transparency and accountability in the pricing system to build trust among farmers and traders alike. He stressed that protecting the welfare of farmers is vital for the country’s food security.
Looking Ahead: Ensuring Fair Palay Prices
Sources said that once the floor price is established, it will serve as a benchmark to prevent price dumping and exploitation. This measure is expected to encourage more farmers to continue rice production, knowing their earnings are safeguarded.
As the government moves forward with this initiative, it aims to create a more equitable agricultural sector where farmers receive fair value for their harvest. The floor price for the buying of palay marks a significant step toward empowering Filipino farmers and strengthening the nation’s rice industry.
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