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  • Reaction Paper - Adelfa v. Abalo

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    tgy976hkyb
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    The foundation for economic freedom (FEF) has called on the Marcos administration to temporarily lift or at least cut import tariffs on rice to check surging prices of the staple grain and avert a possible "full-blown rice crisis." FEF warned that setting a price ceiling would harm Filipino consumers and farmers alike as well as the entire domestic economy, with poorer Filipinos likely to bear the brunt of the consequences. The government may restore the tariff rates back to 35 percent when demand and supply situations stabilize and if the onset of the harvest season results in falling rice prices. The rice tarification law benefits all Filipinos by lowering domestic rice prices, resulting in reduced income for rice farmers but

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    Reaction Paper- Adelfa v. Abalo(3)

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    The foundation for economic freedom (FEF) has called on the Marcos administration to temporarily lift or at least cut import tariffs on rice to check surging prices of the staple grain and avert a possible "full-blown rice crisis." FEF warned that setting a price ceiling would harm Filipino consumers and farmers alike as well as the entire domestic economy, with poorer Filipinos likely to bear the brunt of the consequences. The government may restore the tariff rates back to 35 percent when demand and supply situations stabilize and if the onset of the harvest season results in falling rice prices. The rice tarification law benefits all Filipinos by lowering domestic rice prices, resulting in reduced income for rice farmers but

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    6 views1 page

    Reaction Paper - Adelfa v. Abalo

    Uploaded by

    tgy976hkyb
    The foundation for economic freedom (FEF) has called on the Marcos administration to temporarily lift or at least cut import tariffs on rice to check surging prices of the staple grain and avert a possible "full-blown rice crisis." FEF warned that setting a price ceiling would harm Filipino consumers and farmers alike as well as the entire domestic economy, with poorer Filipinos likely to bear the brunt of the consequences. The government may restore the tariff rates back to 35 percent when demand and supply situations stabilize and if the onset of the harvest season results in falling rice prices. The rice tarification law benefits all Filipinos by lowering domestic rice prices, resulting in reduced income for rice farmers but

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    REACTI

    ONPAPER

    Easi
    ngr
    icei
    mpor
    ttar
    if
    fsbet
    teropt
    iont
    hanpr
    icecaps-
    FEB

    MANI LA,Phi
    li
    ppines-
    Thefoundati
    onforeconomicf
    reedom (FEF)Hascall
    edontheMar cos
    administ
    rati
    ontotempor
    aril
    yli
    ftorat
    leastcuti
    mporttar
    if
    fsonr i
    cetochecksur
    gingpr
    icesof
    thestapl
    egrainandaver
    tapossible"
    FULL-BLOWNRI CECRISIS."

    FEFsai dli
    fti
    ngorr educingthe35per centimpor ttari
    ffprovidedundert her i
    cet arif
    icat i
    onlaw
    wasabet t
    eropt i
    ont hanimposingapr icecapofP41aki logram onr egul ar-
    mi l
    ledriceandP45
    akiloonwel l
    -mil
    l
    edr ice,I
    naccordancewi thexecut iv
    eor derno. 39madepubl iconf ridayandset
    totakeeffectonSept ember5.Thet hi
    nkt ankswar nedt hatset ti
    ngapr icecei li
    ngwoul dhar m
    fi
    li
    pinoconsumerandf armersali
    keaswel lastheent i
    redomest iceconomy ,withpoor erfi
    lipinos
    l
    ikelyt
    obeart hebr untoftheconsequences. Accor di
    ngt oFEF, Thepr i
    cecapwi ll
    har m
    consumer sbecausei twil
    ldri
    vesupplyawayf r
    om t hemar ket.FEFseespr i
    cecei l
    ingasl i
    kewi se
    harmful t
    of armerbecauset rader
    swi l
    luset hepr i
    cecapt ojustifyloweringt heirbuy i
    ngpr ices
    forpalayfrom thefarmer sastheywi l
    llosemoneyi ffar
    m- gatepr i
    cesofpal ayar ehi gherthan
    thecaps.

    Thegovernmentmayrest
    orethetar
    if
    fratesbackto35percentwhenthedemandsandsuppl
    y
    si
    tuat
    ionstabi
    l
    izesandi
    ftheonsetoftheharvestseasonr
    esul
    tinfal
    l
    ingr
    icepr
    ices.

    TradeAssistantSecr
    etar
    yAgatonUver
    oacknowledget
    hatsmal
    ltr
    ader
    swhoboughtt
    hei
    rst
    ock
    athigherpri
    cesareexpectedt
    olosemoneybecauseoft
    hepri
    cecap.

    Concl
    usi
    on

    Thericetar
    iff
    icat
    ionlawbenefit
    sallfi
    li
    pinos.Tar
    if
    finri
    ceimportedfrom outsi
    desoutheastasi
    a
    fel
    lto35percent.
    andt heref
    ormleadstol owerdomesti
    cri
    ceprices,
    resul
    tingreducedincome
    forr
    icefarmersbutincreasedpurchasi
    ngpowerf orri
    ceconsumers.
    Ther icesofimportedand
    l
    ocal r
    icearealmostar et
    hesamel evel
    .

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