Malacañang says price cap on rice effective Tuesday, Sept. 5
MANILA, Philippines — The Office of the Executive Secretary (OES) clarified late Friday night that the price ceiling for regular and well-milled rice in the country will be effective on Tuesday, September 5.
Under Executive Order (EO) No. 39, which was mandated on Friday, the price ceilings of regular-milled rice and well-milled rice will be at P41 and P45 per kilogram, respectively.
OES undersecretary Leonardo Cervantes added that EO No. 39 will be effective upon its publication in national newspapers.
According to Malacañang, E0 39 was declared in response to the increasing prices of rice caused by several factors such as illegal price manipulation, as well as global events, such as the Russia-Ukraine conflict, India’s ban on rice exportation, and rising oil prices.
The price ceiling will remain until lifted by President Ferdinand “Bongbong” Marcos Jr. upon the recommendation of the Price Coordinating Councils, or the Department of Agriculture, of which he is the acting secretary, or the Department of Trade and Industry.