Price caps stay until rice down to P38/kilo – Department of Agriculture

MANILA, Philippines — Executive Order No. 39 issued by President Marcos imposing a price ceiling of P41 and P45 per kilo will stay until the retail price of rice goes down to P38 per kilo, Department of Agriculture (DA) Senior Undersecretary Domingo Panganiban said yesterday.

“I am for the price cap and the President has agreed to that and it was announced by the President (the price cap will continue),” Panganiban said in a chance interview after the launching of the Young Farmers Challenge Program at the Coconut Palace in Pasay City.

Marcos has said that the price cap would continue to be in effect since it has to be studied carefully.

Panganiban added that the implementation of the price ceiling “could continue until Oct. 15, Oct. 18, 20, 30. It will depend on what will happen.”

According to Panganiban, the P5 (per kilo) decrease in the retail prices of rice is not enough following the start of the harvest season.

“The President wants more than P5 (per kilo drop in retail prices of rice) but I don’t know what the President is thinking about. On our part, if the retail price of rice will go down to P38 (per kilo), the President can consider (to lift the price cap),” Panganiban said.

He gave assurance that the price ceiling will be lifted once the P38 per kilo of rice will be available in the market. “That will be automatic,” he added.

In a separate chance interview, Sen. Imee Marcos said that there is no need to import rice at this time as the harvest season has already started.

“We have a lot of palay so we do not need to import as the (rice) stocks will further increase with the harvest season. It started in Central Luzon, next month Northern (Luzon) will harvest so we don’t need to import during this period. The importation is only needed in July or August but they (DA) should plan it and do better. They should know when there will be a shortage and the importation should just be enough,” Marcos said.

Based on monitoring of the DA in Metro Manila markets, the retail prices of local regular milled rice ranged between P40 and P42 per kilo; local well-milled rice, between P45 and P48 per kilo; local premium rice, between P47 and P60 per kilo; and local special