Marcos Jr sets P41, P45 price ceilings on rice nationwide | ABS-CBN
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Marcos Jr sets P41, P45 price ceilings on rice nationwide
Marcos Jr sets P41, P45 price ceilings on rice nationwide
David Dizon and Job Manahan,
ABS-CBN News
Published Sep 01, 2023 08:27 AM PHT
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Updated Sep 01, 2023 03:26 PM PHT

MANILA (UPDATE) — President Ferdinand Marcos Jr. has approved the recommendation to impose mandated price ceilings on rice in the entire country following an alarming increase in its retail prices in the market.
MANILA (UPDATE) — President Ferdinand Marcos Jr. has approved the recommendation to impose mandated price ceilings on rice in the entire country following an alarming increase in its retail prices in the market.
Under Executive Order No. 39 signed by Executive Secretary Lucas Bersamin on August 31, the mandated price ceiling for regular milled rice is P41 per kilo while the mandated price cap for well-milled rice is P45 per kilo.
Under Executive Order No. 39 signed by Executive Secretary Lucas Bersamin on August 31, the mandated price ceiling for regular milled rice is P41 per kilo while the mandated price cap for well-milled rice is P45 per kilo.
“The mandated price ceilings shall remain in full force and effect unless lifted by the President upon the recommendation of the Price Coordinating Council or the DA (Department of Agriculture) and the DTI (Department of Trade and Industry),” the order read.
“The mandated price ceilings shall remain in full force and effect unless lifted by the President upon the recommendation of the Price Coordinating Council or the DA (Department of Agriculture) and the DTI (Department of Trade and Industry),” the order read.
As of August 28, local regular milled rice in markets in the National Capital Region ranged from P42 to P55 per kilogram while local well-milled rice stood at P48 to P56 per kilo.
As of August 28, local regular milled rice in markets in the National Capital Region ranged from P42 to P55 per kilogram while local well-milled rice stood at P48 to P56 per kilo.
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In a chance interview with reporters in Puerto Princesa, Palawan, Marcos urged the public to report to authorities retailers selling rice above the price ceiling.
In a chance interview with reporters in Puerto Princesa, Palawan, Marcos urged the public to report to authorities retailers selling rice above the price ceiling.
Monitoring rice prices in markets will be led by the DA, DTI, interior department, and the Department of Justice, said the President.
Monitoring rice prices in markets will be led by the DA, DTI, interior department, and the Department of Justice, said the President.
Monitoring efforts will be focused in Metro Manila, he said, as price ceiling implementation "is not so bad outside" the capital region.
Monitoring efforts will be focused in Metro Manila, he said, as price ceiling implementation "is not so bad outside" the capital region.
"If it comes to that, I would encourage anyone who finds that someone or retailer is selling at above the price ceiling, i-report ninyo," he said.
"If it comes to that, I would encourage anyone who finds that someone or retailer is selling at above the price ceiling, i-report ninyo," he said.
"I-report ninyo sa pulis, i-report niyo sa DA sa lugar ninyo, i-report niyo sa local government para matingnan namin at tiyakin na hindi lalampas doon sa presyo na ating nilagay," he added.
"I-report ninyo sa pulis, i-report niyo sa DA sa lugar ninyo, i-report niyo sa local government para matingnan namin at tiyakin na hindi lalampas doon sa presyo na ating nilagay," he added.
The National Economic and Development Authority earlier said the rice inflation rate increased to 4.2 percent in July 2023 from 1 percent in January 2022 due to higher demand and tight supply, as other countries sought to beef up their supply in anticipation of El Niño.
The National Economic and Development Authority earlier said the rice inflation rate increased to 4.2 percent in July 2023 from 1 percent in January 2022 due to higher demand and tight supply, as other countries sought to beef up their supply in anticipation of El Niño.
Marcos has directed the DA and DTI to ensure the strict implementation of the mandated price ceilings, monitor and investigate abnormal price movements of rice in the market, and provide assistance to affected retailers with the help of the Department of Interior and Local Government.
Marcos has directed the DA and DTI to ensure the strict implementation of the mandated price ceilings, monitor and investigate abnormal price movements of rice in the market, and provide assistance to affected retailers with the help of the Department of Interior and Local Government.
The President has also directed the Philippine Competition Commission to implement measures against cartels or those abusing their dominant position in the market.
The President has also directed the Philippine Competition Commission to implement measures against cartels or those abusing their dominant position in the market.
The DA earlier said the rice supply for the second semester could reach 10.15 million metric tons, which would be enough to cover the current demand of 7.76 MMT.
The DA earlier said the rice supply for the second semester could reach 10.15 million metric tons, which would be enough to cover the current demand of 7.76 MMT.
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