President Bongbong Marcos has set a price ceiling for white rice nationwide in an attempt to stem rising food prices.
Marcos, through Executive Secretary Lucas Bersamin, issued Executive Order No. 39 that mandates a P41 per kilogram price cap on regular milled rice and P45 a kilo for well-milled rice as retail prices now range at P50 per kilo.
“The mandated price ceilings shall remain in full force and effect unless lifted by the President upon the recommendation of the Price Coordinating Council or the DA and the DTI,” the executive order read.
Marcos Jr. once promised during his presidential campaign that rice prices will go down to P20 a kilo in public markets, but the Department of Agriculture has admitted that it was not doable.
Marcos Jr. serves as concurrent Agriculture secretary.