The Department of Social Welfare and Development has distributed P4.5 million in financial aid to 300 rice retailers in 3 cities in Metro Manila who were affected by the price cap on rice.

• DSWD sets financial aid for small traders affected by rice price cap

DSWD Secretary Rex Gatchalian said the department distributed financial aid to roughly 300 micro and small rice retailers in Quezon City, San Juan and Caloocan since Saturday.

Another 400 rice retailers in Paranaque, Navotas and Zamboanga region will each receive P15,000 in financial aid starting today.

Gatchalian said the government is setting aside P1 billion for the livelihood program.

President Ferdinand Marcos Jr. earlier 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.

• Marcos Jr sets P41, P45 price ceilings on rice nationwide

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 order took effect on September 5.

The prices of rice and palay are "expected to stabilize" as the harvest season for the Filipino staple begins this month, Malacañang said.

• Rice, palay prices 'expected to stabilize'; high rice cost 'artificial' — officials