MANILA – Targeted cash transfers and crop insurance can help farmers stay competitive, a professor said Friday, with the government set to impose tariffs on rice imports.
Some of the tariff revenues should be used for cash transfers to augment the income of farmers, said De La Salle University School of Economics assistant professor Krista Danielle Yu.
"This is key to making sure that our farmers is competitive upon the entry of imported rice… Aside from boosting competitiveness, you’re also augmenting their income through cash transfers," Yu said.
Experts projected rice prices to go down by P7 to P8 per kilo once tariffs are imposed. This will help help boost the disposable income of the poor who spend an average of 20 percent of their total income on rice, she said.