Marcos orders DA, DTI to monitor rice prices in markets
MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. has ordered the Department of Trade and Industry and the Department of Agriculture (DA) to keep a close eye on the price of rice, said the Palace on Wednesday.
“Rice supply is sufficient. Prices are, however, very variable. The government is working with the private sector to rationalize the prices and make available affordable rice in the market and in Kadiwa,” Marcos said in a statement.
The DA reported that retailers sell rice at different costs, some at P38-P40 per kilo, while others sell the lowest variety at P50 per kilo.
The statement from the President comes amid high rice prices and the beginning of the El Niño phenomenon.
Marcos also reiterated his warning against rice hoarders and manipulators who would take advantage of the lean months before harvest season.
Article continues after this advertisementThe President had previously ordered the National Bureau of Investigation and the Department of Justice to go after these agricultural smugglers. He doubled his order during his second State of the Nation Address.
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