By Liezelle Soriano
MANILA — Rosemarie Edillon, Undersecretary of the National Economic and Development Authority (NEDA), on Saturday (09 Dec 2023) asserted that President Ferdinand R. Marcos Jr.’s imposition of a rice price ceiling has played a significant role in alleviating the country’s food inflation rate.
Edillon shared her insights during a news forum in Quezon City when questioned about the impact of the President’s price cap on rice.
“The rice price cap was implemented in September. So, these prices are as of November, and we are aware that towards the end of September and October, there was already a harvest,” Edillon explained. “So, yes, these factors are intertwined.”
The NEDA official emphasized that along with the government’s rice price cap, the suspension of pass-through fees by local government units (LGUs) also contributed to the reduction in the cost of essential goods.
Edillon highlighted that despite the goal of maintaining rice at P20 per kilo under current conditions, the President’s decision to adjust the buying price for fresh palay has proven beneficial for many farmers.
“The buying price increased to around P23, P25 – there are even instances of P25. That’s for palay, not yet rice. So, our farmers gained significant profit,” she remarked.
Furthermore, Edillon proposed demand management as a measure to help lower rice prices for consumers.
(ai/mnm)
