MANILA: The Philippine government plans to sell some of its rice inventories at heavily subsidised prices in May as residents turn out for midterm elections.
The state-owned National Food Authority will sell at least 370,000 tonnes of ageing kernels from its warehouses at about 20 pesos ($0.36) a kilogramme, about half of current market prices, Agriculture Secretary Francisco Tiu Laurel Jr. said at a press conference Tuesday (April 29).
