Rice no longer main driver of inflation, DoF says

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Rice no longer main driver of inflation, DoF says
May 26, 2022 | 8:26 pm

https://www.bworldonline.com/economy/2022/05/26/451151/rice-no-longer-main-driver-of-inflation-dof-says/

THE Department of Finance (DoF) said that the Rice Tariffication Law (RTL) has removed rice as the main driver of inflation by making farmers more productive, with average farm yields rising to 4.22 tons per hectare (t/ha) in 2021 from 3.65 t/ha before the law took effect.

The DoF said in a statement on Thursday that the overall increase in yields equates to a 15.6% increase in farmer productivity.

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