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MANILA, Philippines — The Department of Agriculture (DA) said the price cap of P50 per kilogram (kg) on imported rice may be extended to mitigate the lingering impact of the Middle East conflict on retail prices.
Agriculture Secretary Francisco Tiu Laurel Jr. said the 30-day price ceiling “may be extended” by up to two months to stabilize retail prices.
“Definitely, the crisis will not be over. Even if it’s over there, the effects of the crisis are not limited to 30 days. It might be affecting us until the end of the year,” Tiu Laurel said in an interview.
“There’s a good chance the price cap may be extended for another month or two,” he told reporters.
