Port congestion hampering rice price drop

by The Manila Times

Sep 17, 2024 12:18 am

PORT congestion is hampering the further decrease in rice prices, notwithstanding tariff cuts on imports of the staple, Agriculture Secretary Francisco Tiu Laurel Jr. said on Monday.

Despite tax reductions in early August, the price of rice has not fully gone down due to ongoing delays in unloading and logistics, Tiu Laurel pointed out, noting that a ship carrying around 10,000 MT of rice would pay $7,000 per day of stay in the port.

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