The current price of NFA (National Food Agency) rice will remain even if new taxes will be implemented in the Philippines.
According to NFA Administrator Jason Aquino, the price of regular milled variety of NFA rice will remain at Php 27 per kilo, while the well-milled variety will maintain a price of Php 32 per kilo.
The NFA made this statement after it was speculated that the price of rice will increase due to the newly legislated Tax Reform for Acceleration and Inclusion (TRAIN) Law that will affect petroleum products.
Aquino also ordered the Finance and Operations Department of NFA to do a cost analysis on the effects of the new tax laws to the price of rice.
The NFA also warned rice traders to not take advantage of the predicted price increases since the agency will not be afraid to punish miscreants.
The NFA also asked the public to report any illegal activities of businessmen, particularly the overpricing of rice products in the Philippines.