Government imposes P50 price cap on imported rice

MANILA, Philippines — The government has imposed a price cap of P50 per kilo on imported rice for 30 days nationwide to ensure the accessibility of affordable rice for all Filipinos.

Under Executive Order 118 issued by President Marcos yesterday, the price ceiling would be applied on five percent broken imported rice.

The order will take effect upon publication in the Official Gazette or in a newspaper of general circulation.

The price cap will be implemented for 30 days, unless earlier lifted by the President upon the recommendation of the National Price Coordinating Council.

The NPCC recommended the immediate enforcement of the P50-a-kilo price ceiling to address unjustified price increases, prevent market abuse and ensure the availability of affordable rice while maintaining market stability.

EO 118 directs the NPCC to conduct a periodic review of the implementation of the price ceiling every 15 days and recommend to the President the continuation, adjustment or lifting of it based on prevailing market conditions.

The Department of Trade and Industry and the Department of Agriculture are directed to ensure the strict and uniform enforcement of the price ceiling.

The Department of the Interior and Local Government is likewise instructed to provide the necessary support in its implementation.

The Philippine National Police and other law enforcement agencies shall also provide the necessary support to ensure the immediate and effective enforcement of the order.