THE rice price cap has been lifted by President Ferdinand “Bongbong” Marcos Jr., beginning today, October 4.
“Well, I think it’s the appropriate time since namimigay tayo ng bigas. Yes, as of today we are lifting the price caps on the rice both for the regular-milled rice and for the well-milled rice,” Marcos said in an interview in Taguig City.
“So tinatanggal na natin ‘yung mga control. Pero hindi ibig sabihin basta’t ganoon na lang dahil kailangan pa rin natin ayusin ang agricultural sector,” he added.
Executive Order 39 mandated a price cap of P41 per kilogram for regular-milled rice, and P45 per kilogram for well-milled rice which became effective on September 5.
Last Septemeber, the rice price cap had been implemented following the hoarding of unscrupulous businessmen and agricultural smugglers in the country.
“We just had a meeting about that this morning, so far the implementation and enforcement is going as well as we can expect. Siyempre nag-aalangan din ‘yung ibang retailer at hindi natin puwedeng sisihin dahil nga hindi sila nakakatiyak nga doon sa ating ibibigay na kapalit,” Marcos said at the time.
The price ceiling stemmed from the surge in retail prices of rice in local markets. Marcos blamed this to smugglers and hoarders of agricultural products.
Affected retailers were given cash assistance worth P15,000 as they reel from the effects of the price ceiling.
Department of Trade and Industry-Fair Trade and Enforcement Bureau Director Fhillip Sawali, during a press briefing in Makati City, said Trade Secretary Alfredo Pascual and Agriculture Senior Undersecretary Domingo signed a joint memorandum circular, recommending the lifting of the mandated price ceiling.
