Marcos lifts price caps on rice

PRESIDENT FERDINAND Marcos Jr has ordered the lifting of the price caps on rice, both for the regular milled rice and well-milled rice, barely a month after he issued Executive Order (EO) No. 39 setting the price ceilings on rice in the whole country.

Marcos now said the move to lift the price caps on rice is timely as the administration carries out various measures to shield the poor and the most vulnerable. But many rice retailers, including supermarkets across the country did not follow EO 39.

Under the EO 39, the price for regular milled rice in the market nationwide is P41.00 while the price cap for well-milled rice is P45.00. Retailers sell rice as high as P60 a kilo and to appease the public, especially the poor, Marcos distributed thousands of bags of seized smuggled rice to beneficiaries of the government’s Pantawid Pamilyang Pilipino Program in different parts of the country.

The rice were part of the P42 million contraband seized by the Bureau of Customs (BOC) at a warehouse in Zamboanga City. The announcement of the seizure of some 42,180 sacks was made on September 15 by the BOC. 

“I think it’s the appropriate time since namimigay tayo ng mga bigas. We are lifting the price caps on rice, both for the regular milled rice and for the well-milled rice,” Marcos said in an interview when asked about his decision on the recommendation to remove the prices cap.

“So, tinatanggal na natin ‘yung mga control pero hindi ibig sabihin basta’t ganun na lang dahil kailangan pa rin natin ayusin ang agricultural sector. Kailangan pa rin natin tulungan ang mga pinakamahirap, pinakagutom para kahit papaano makaahon sila,” he added.

The Department of Trade and Industry (DTI), the Department of Agriculture (DA) and other entities met with Marcos recently during a Palace sectoral meeting to discuss the present indicators to lift price cap on rice.

The decreasing rice prices in the domestic market, increasing supply of rice and favorable external factors such as decreasing prices of rice in the global market were among the indicators that warranted the lifting of the price cap.

Marcos promised to continue providing assistance that the government has been extending to farmers and to the most underprivileged families.

While the government cannot control the market, Marcos said his administration will continue carrying out such programs to cushion the impact of food commodity increases to the poor and the most vulnerable, as well as identify the sectors that are bearing the brunt of the price movements.

On the production side, Marcos said the government will continue to support the agriculture sector and strengthen the country’s value chain “because we are still talking about production.”

“Ang Rice Tariffication Law, mayroong naka-mandate doon na P10 billion every year for the RCEF. Hindi RCEP, ‘yung RCEF (Rice Competitiveness Enhancement Fund), ‘yung namimigay ng mga gamit, mga tractor, mga dryer, mga harvester, et cetera. Ang ginawa natin para matulungan pa ‘yung ating mga farmer, ‘yung lampas doon sa P10 billion nangongolekta ang rice tariffication,” he said. “So, the RCEF from only the expenditure of 10 billion, it will now be 22 billion in that regard para bumilis nga talaga ang pagtulong sa ating mga farmer.”

The P10 billion was immediately appropriated for farm machineries and farmers’ processing, while the excess collection, which is more than P12 billion this year will be allocated for farmers and fishermen, according to Marcos. He said the amount will be spent for buying general dryers for farmers and cold storage for the fishermen. (Mindanao Examiner).