Ibon Foundation photo courtesy
PUERTO PRINCESA, Palawan — President Ferdinand Marcos Jr. has imposed mandated price ceilings on rice in the whole country amid the alarming increase in its retail prices in the market, Malacañang announced Friday.
The President, through Executive Secretary Lucas Bersamin, signed on Aug. 31, 2023, Executive Order (EO) 39, approving the joint recommendation of the Department of Agriculture (DA) and the Department of Trade of Industry (DTI) to set price ceilings on rice in the country.
Under EO 39, the mandated price ceiling for regular milled rice is P41.00 per kilogram while the mandated price cap for well-milled rice is P45.00 per kilogram.
“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,” Marcos said in his order.
EO 39, which was released to the public on Friday, will take effect immediately upon publication in the Official Gazette, or in a newspaper of general circulation. (ia/mnm)
