Marcos says price cap helped stabilize rice prices

Marcos says price cap helped stabilize rice prices

/ 08:54 PM October 07, 2023

MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. said that the recent price cap on rice had helped to stabilize the present prices of the food staple.

Marcos Jr. also reiterated that there are no problems in the country’s rice supply and that the government was making moves to reduce the cost of production.

“Ilang beses ko na inihayag sa aking mga talumpati, wala tayong problema sa supply. Patuloy naman din ang pagpapatibay ng iba’t-ibang aspeto ng pagsasaka at agrikultura para mapababa natin ang ating cost of production,” Marcos Jr. said.


(I have repeated in my speeches: there are no problems in supply. We are also strengthening other aspects of farming and agriculture to reduce our cost of production.)


The Chief Executive, who is also the concurrent agriculture secretary, lifted the almost four-week-long price ceiling last Wednesday.

Marcos Jr. also said that he was more concerned about the prices of rice than his approval ratings.

“Katotohanan niyan, hindi masyado natin tinitignan ang survey number, ang tinitingnan natin kung talaga bang bumababa ang presyo ng bigas at kung talaga bang umaabot ang supply ng bigas sa lahat ng ating mga mamamayan,” he said.

(The truth is we do not pay too much attention to the survey numbers. What we look at is if the prices of rice are decreasing and if the rice supply is reaching everyone in the country.)



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TAGS: Marcos, Price, price cap, rice, rice price

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