The mandated price caps on regular and well-milled rice could be lifted soon, a Department of Agriculture (DA) official said
In a Palace briefing, Bureau of Plant Industry Director Glenn Panganiban said global rice prices have slowly decreased, and local supply is expected to increase as the harvest season begins.
She presented the report during the sectoral meeting with President Ferdinand Marcos Jr. — who is also the concurrent Agriculture secretary — in Malacañang on Tuesday.President Marcos signed Executive Order No. 39 on Sept. 5, imposing mandated price ceilings on regular and well-milled rice in public markets. Regular milled rice must not sell for more than P41 per kilo, while well-milled rice may not sell for more than P45 a kilo.
“The elements that we need to see, the indicators are there that will point to possible lifting of the ceiling,” he said.
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