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Rice economics

Discussion in 'Dumaguete City' started by cabb, Feb 18, 2019.

  1. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    Yeah, it beats the current alternative. The rice doesn't need to be replaced, it needs to be made part of a healthy, yet affordable, diet. When 70% or more of your average meal consists of rice you are going to be malnourished and start to develop some serious health conditions...that cost a lot to properly treat. It isn't the same as starving but I would argue that the amount of suffering is going to be much greater and prolonged.

    If the government is charging VAT on basic food items that needs to stop so prices. I'm not sure if they are doing that, but I suspect they may be doing so. I don't recall every seeing an item on a grocery receipt that was exempt from the VAT. However, I have to admit that i haven't seen too many grocery receipt in the Philippines.
     
    Last edited: Feb 20, 2019
  2. OP
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    cabb

    cabb DI Forum Patron Highly Rated Poster ✤Forum Sponsor✤

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    Not disagreeing with your dietary suggestions, but let's not ignore economics either. Maybe if rice was cheaper they could buy other more healthy items, like dried fish. :o o: What other food is out that is more cost effective and better for you than rice? I have to think millions of people have already given us our answer.
     
    Last edited: Feb 20, 2019
  3. OP
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    cabb

    cabb DI Forum Patron Highly Rated Poster ✤Forum Sponsor✤

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    Did you read the article I linked?

    My personal experience comes from my wife telling me we need to send more money over the years because rice is getting more expensive.

    Some interesting reading:
    Rice Imports to Cool Philippine Inflation, Economic Planner Says
    https://www.bloomberg.com/news/arti...ol-philippine-inflation-economic-planner-says

    Philippine inflation will ease from a five-year high once lawmakers approve a measure that will allow more rice imports, giving authorities scope to delay an interest rate increase, according to a senior economic planner.
    Inflation that climbed to 4.3 percent in March will cool by at least 1 percentage point once a law limiting overseas purchases of the nation’s staple grain is amended by Congress by the end of the first half of the year, Economic Planning Undersecretary Rosemarie Edillon said in an April 27 interview in her office in Metro Manila.

    Did inflation increase the cost of rice or did the cost of rice create inflation?
    https://www.dof.gov.ph/index.php/rice-contribution-to-inflation-grew-10-times-in-2018/

    Stubbornly high inflation? Blame rice prices, says DOF
    https://business.inquirer.net/258812/stubbornly-high-inflation-blame-rice-prices-says-dof


     
    Last edited: Feb 20, 2019
  4. TheDude

    TheDude DI Forum Patron Highly Rated Poster

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    There's room for improvement? :wink:

    Whoops, busted. :facepalm:

    Great discussion. You're right. I'm all for free markets. Where do we vote on this?
     
  5. wolvhund

    wolvhund DI Member

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    I like the part of the report that stated they need to improve titling and property rights. It's a mess right now. I also liked that it stated they need to quit subsidizing certain crops, governments aren't good at trying to control markets. I don't think switching from picking winners and losers in crops to picking them in R&D and infrastructure is the way to go, but it is a big improvement. Getting rid of tariffs is pretty much always a good thing.

    They need more dairy in the PI, anyone interested in starting a dairy farm?
     
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