Rice retailers must submit sworn statements to the Department of Agriculture (DA) and the Department of Trade and Industry (DTI) on their current rice inventories and their purchase costs to enable the government to address their concerns that they would lose if they would sell their stocks at the price ceiling.

The National Food Authority (NFA) must then be directed to buy the compliant retailers’ inventories at a level a little higher than their procurement costs, and the NFA must resell the supply to the public at the regulated price even at a loss, which it traditionally does.

This strategy would not only help the farmers with existing and additional subsidies but also the rice retailers and consumers.

EDCEL C. LAGMAN