Support prices, warehouse receipts program
Agreed to institute reference floor/ceiling prices for paddy. Producers are to receive a minimum of Pesos 108 000-122 000 per 125 kgs (USD 475 - 537 per tonne) depending on the various production areas, and no more than Pesos 118 000-132 000 (USD 519 - 581 per tonne). The price band will be implemented within the framework of the storage incentive programme, which is to operate between 1 August and 30 November 2013, and will be accompanied by efforts to increase border protection and support the industry gain competitiveness.
Exchange rate as of 1 April 2013