Marcos backs proposed P50/kilo price cap on imported rice

MANILA, Philippines — President Ferdinand R. Marcos Jr. supports the proposed P50 per kilo price cap on imported rice, according to Palace press officer Undersecretary Claire Castro.

She said the Department of Agriculture has already submitted its recommendation to the National Price Coordinating Council for deliberation.

READ: Palace: PH facing ‘price disruption,’ not yet an oil crisis

“Their proposed price cap is P50 for imported rice. This was also the suggestion of Agriculture Secretary Laurel to the president, and it is being supported,” Castro said in Filipino at a briefing.

The proposal is part of the government’s measures to cushion the impact of rising fuel costs triggered by the conflict in the Middle East.

In his BBM Vlog 278: Krisis sa Langis, aired on Sunday, Marcos said rice prices remain under control for now.

“There are also discussions on a temporary price cap on rice. Let’s wait for further updates,” he said in Filipino.

“So we don’t have a problem with rice. The supply is enough, and we can still control the price,” he added.

Meanwhile, the sale of rice at P20 per kilo continues in 177 local government units, with more cities and municipalities expected to be included. /gsg