What will the law do?
The law essentially allows for the liberalization of rice imports. It will remove the previously placed quota on rice imports, permitting traders to import a near-unlimited quantity of rice.
How will it work?
In the basic rules of economy, the law of supply and demand will dictate market prices. By allowing more competitors to enter the rice market, the law will lower the price of rice by increasing supply.
FROM: fnbreport.ph
I hope this helps!
