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Advocates Philippines
President Marcos Vows To Tackle Rice Price Surge And Target Hoarders
Photo credit: PCO
In a stern warning issued today, August 16, 2023, President Ferdinand Marcos Jr. pledged resolute action against rice hoarders and price manipulators who are capitalizing on the pre-harvest lean months, leading to a surge in rice prices across the market.
The Presidential Communications Office (PCO) revealed that President Marcos has underscored the nation's ample rice supply. The administration is actively collaborating with the private sector to establish a more rationalized pricing system and ensure the availability of affordable rice, both within traditional marketplaces and the government's Kadiwa stores.
"Rice supply is sufficient. Prices are, however, very variable. The government is working with the private sector to rationalize the prices and make available affordable rice in the market and in Kadiwa," the PCO quoted the President as affirming.
Highlighting disparities in rice pricing, the Department of Agriculture (DA) reported instances where retailers are vending rice at varying price points. The least expensive offerings hover around P38 to P40 per kilo, while other vendors are setting their most economical variety at P50 per kilo.
Consequently, the PCO disclosed that the head of state has issued a directive to both the Department of Agriculture and the Department of Trade and Industry (DTI) to maintain a vigilant watch over rice prices in diverse markets across the nation.
The comprehensive statement from the PCO read:
"The President has ordered the Department of Agriculture and Department of Trade and Industry to closely monitor the prices of rice in the different markets. RICE SUPPLY IS SUFFICIENT. Prices are, however, very variable. The government is working with the private sector to rationalize the prices and make available affordable rice in the market and in Kadiwa. The President will go after hoarders and price manipulators who take advantage of the lean months before harvest season."
The Presidential Communications Office (PCO) revealed that President Marcos has underscored the nation's ample rice supply. The administration is actively collaborating with the private sector to establish a more rationalized pricing system and ensure the availability of affordable rice, both within traditional marketplaces and the government's Kadiwa stores.
"Rice supply is sufficient. Prices are, however, very variable. The government is working with the private sector to rationalize the prices and make available affordable rice in the market and in Kadiwa," the PCO quoted the President as affirming.
Highlighting disparities in rice pricing, the Department of Agriculture (DA) reported instances where retailers are vending rice at varying price points. The least expensive offerings hover around P38 to P40 per kilo, while other vendors are setting their most economical variety at P50 per kilo.
Consequently, the PCO disclosed that the head of state has issued a directive to both the Department of Agriculture and the Department of Trade and Industry (DTI) to maintain a vigilant watch over rice prices in diverse markets across the nation.
The comprehensive statement from the PCO read:
"The President has ordered the Department of Agriculture and Department of Trade and Industry to closely monitor the prices of rice in the different markets. RICE SUPPLY IS SUFFICIENT. Prices are, however, very variable. The government is working with the private sector to rationalize the prices and make available affordable rice in the market and in Kadiwa. The President will go after hoarders and price manipulators who take advantage of the lean months before harvest season."
Aug 16, 2023
