The Philippines government will set a new tobacco floor price, effective next season, according to PhilStar.
The National Tobacco Administration’s (NTA) 2025 Tripartite Consultative Conference began this week, where the regulatory body consults with farmers, traders, and cigarette manufacturers to agree on buying rates for the next two tobacco growing seasons.
According to Belinda Sanchez, NTA administrator and CEO, the process is to ensure safeguarding of tobacco farmer welfare and that there is a well-founded recommendation for a reasonable floor price increase.
Tobacco is the only cash crop in the Philippines with officially approved floor prices, according to the NTA.