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Advocates Philippines
Gov't Lifts Price Caps On Rice
Photo credit: PCO
President Ferdinand R. Marcos Jr. announced on Wednesday the removal of price caps on both regular milled rice and well-milled rice.
The President stated that this decision was made to coincide with the government's ongoing efforts to safeguard the interests of the underprivileged and vulnerable populations.
President Marcos also emphasized the need to support the agricultural sector while ensuring assistance for the poorest and most hungry citizens.
"We are lifting the price caps on rice, both for regular milled rice and well-milled rice. However, this does not mean an end to our efforts. We still need to improve the agricultural sector and assist the neediest, so they can uplift their lives," he stated during an interview.
The decision came after a meeting between the Department of Trade and Industry (DTI), the Department of Agriculture (DA), and other entities, where decreasing rice prices in the domestic market, increased rice supply, and favorable external factors were noted. These indicators supported the lifting of price caps.
President Marcos assured continued government aid to farmers and the most underprivileged families, emphasizing the importance of addressing the impact of food price fluctuations on vulnerable communities. He outlined plans to allocate funds from the Rice Competitiveness Enhancement Fund (RCEF) to bolster support for farmers, including providing machinery and equipment.
Moreover, to counter rising rice prices in Metro Manila, President Marcos instructed House Speaker Martin Romualdez to initiate a program specifically for the National Capital Region (NCR).
Under this initiative, the 33 NCR congressmen will distribute rice to various areas in Metro Manila, ensuring that the benefits of the policy change reach urban centers as well.
The President stated that this decision was made to coincide with the government's ongoing efforts to safeguard the interests of the underprivileged and vulnerable populations.
President Marcos also emphasized the need to support the agricultural sector while ensuring assistance for the poorest and most hungry citizens.
"We are lifting the price caps on rice, both for regular milled rice and well-milled rice. However, this does not mean an end to our efforts. We still need to improve the agricultural sector and assist the neediest, so they can uplift their lives," he stated during an interview.
The decision came after a meeting between the Department of Trade and Industry (DTI), the Department of Agriculture (DA), and other entities, where decreasing rice prices in the domestic market, increased rice supply, and favorable external factors were noted. These indicators supported the lifting of price caps.
President Marcos assured continued government aid to farmers and the most underprivileged families, emphasizing the importance of addressing the impact of food price fluctuations on vulnerable communities. He outlined plans to allocate funds from the Rice Competitiveness Enhancement Fund (RCEF) to bolster support for farmers, including providing machinery and equipment.
Moreover, to counter rising rice prices in Metro Manila, President Marcos instructed House Speaker Martin Romualdez to initiate a program specifically for the National Capital Region (NCR).
Under this initiative, the 33 NCR congressmen will distribute rice to various areas in Metro Manila, ensuring that the benefits of the policy change reach urban centers as well.
Oct 4, 2023
