Rice price ceilings

September 1, 2023 People's Tonight 115 views

FOLLOWING the surge in the retail prices of the Filipinos’ staple, President Marcos has imposed price ceilings on rice not only in the metropolis but across the country.

This drew cheers and applause from the poor, particularly the country’s farmers, fishermen and other agricultural workers, who comprise the bulk of the population.

Under Executive Order (EO) No. 39, the mandated price ceiling for regular milled rice is P41 per kilogram, while the price cap for well-milled rice is P45 per kilo.

Republic Act (RA) No. 7581, otherwise known as the Price Act, authorizes the Chief Executive to impose a price ceiling on any basic commodity or prime commodity.

The Department of Agriculture (DA) had earlier reported that the price per kilogram of local regular milled rice in the Metropolitan Manila area ranged from P42 to P55.

The prices of local well-milled rice, on the other hand, ranged from P48 to P56 per kilo.

Earlier, the DA and the Department of Trade and Industry (DTI) recommended the imposition of the price ceilings to ensure that the staple “is reasonably priced.”

Reports said the recommendation stemmed from the current increase in the retail prices of rice, which resulted in a considerable economic strain on the Filipino people.

Various quarters lamented the surge in the retail prices of the staple despite the steady supply of rice in the country.

Ito ay nagpapatunay lamang na may mga kababayan pa nating mapagsamantala, kagaya ng hoarders at profiteers, at walang pakialam sa paghihirap ng taumbayan.