PBBM announces lifting of price cap on rice – Presidential Communications Office

The government is lifting the price caps on rice, both for the regular milled rice and well-milled rice, President Ferdinand R. Marcos Jr. announced on Wednesday, saying that the move is timely as the administration carries out various measures to shield the poor and the most vulnerable.

“I think it’s the appropriate time since namimigay tayo ng mga bigas. Yes, we are, as of today, we are lifting the price caps on rice, both for the regular milled rice and for the well-milled rice,” President 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.”

The Department of Trade and Industry (DTI), the Department of Agriculture (DA) and other entities met with the President during a Palace sectoral meeting on Tuesday 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.

The President 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, the President 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