Aug 10
12
Philippine Government Rescinds Rice Subsidy to NFA
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The Philippine government has decided to cancel $178 million dollars in rice subsidies to the National Food Administration (NFA) following the discovery of stock-piles of decaying rice. Rice is, of course, one of the main staples of the Philippine diet. A new plan calls for shifting rice subsidies to other agencies to benefit the poor.
Currently, NFA has been subsidizing rice by selling the commodity at a lower price. When the country’s new government assumed office late June, it discovered the over importation of rice during the previous administration.
Philippine President Benigno Aquino III disclosed in his first State of the Nation address that tons of rice has been rotting in warehouses. Read the rest of the story here.
