In response to the reported increase in rice prices before the harvest season, President Ferdinand “Bongbong” Marcos Jr. has issued directives to the Departments of Agriculture (DA) and Trade and Industry (DTI) to implement stringent monitoring measures.
These measures are aimed at curbing hoarding and price manipulation by individuals taking advantage of the lean months preceding the harvest season.
While the country’s rice supply remains sufficient, there has been considerable fluctuation in prices.
The government is collaborating with the private sector to stabilize prices and ensure the availability of affordable rice both in the general market and through the Kadiwa program.
The President is determined to take decisive action against hoarders and price manipulators who exploit the vulnerable period before the harvest season, as affirmed by a statement from the Presidential Communications Office (PCO) quoting the Chief Executive.
The Department of Agriculture has observed that rice retailers are offering different price ranges, with some selling the essential staple at prices as low as P38-P40 per kilo, while others are pricing their cheapest variety at P50 per kilo.
In light of this situation, Marcos has entrusted the DA and DTI with the responsibility of closely monitoring rice prices across various markets throughout the country, as highlighted by the PCO. (AI/MNM)
