INQUIRER PHOTO / GRIG C. MONTEGRANDE
MANILA, Philippines – Weak competition and supply chain bottlenecks continue to negate the impact of lower tariffs and cheaper global rice prices on local retail rice prices, economists from the University of the Philippines and the Philippine Economic Society said.
In a study published in the Philippine Review of Economics, the economists found that consumers have received only part of the savings from lower import costs despite the liberalization of rice trade.
READ: PH rice tariff policy may slow down imports
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