Rice Crisis: Government May Lose up to P22B for Every 1M Tons That it Imports
…and that’s only on one purchase. With rice exporters offering to sell at prices way above the country's expectations, the Philippine government is expected to lose a lot more money than it initially projected. At $1,000 per metric ton, the government will spend P41/kilogram plus freight, duties, VAT and other expenses. In total, the cost…