By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
MANILA, Philippines – The Department of Agriculture (DA) said the price ceiling of P50 per kilogram for imported rice is a “calibrated” measure to mitigate price spikes amid the ongoing Middle East conflict.
In a statement on Thursday, the DA said the price cap ordered “is intended as a calibrated response to extraordinary market volatility.”
It added that the cap also complements the government’s ongoing efforts to strengthen domestic rice production and curb speculative pricing increases.
President Ferdinand Marcos Jr. issued Executive Order No. 118 on Wednesday, imposing a price ceiling of P50 a kilo on 5-percent broken imported rice nationwide for 30 days, unless earlier lifted by the President upon the National Price Coordinating Council’s (NPCC) recommendation.
