MANILA — President Ferdinand “Bongbong” Marcos Jr. on Wednesday lifted the rice price ceiling.
Marcos made the announcement during a rice distribution activity in Taguig City that beginning this Wednesday, Oct. 4, the rice price cap will be lifted.
“As of today, we are lifting the price caps on the rice both for the regular milled rice and for the well-milled rice,” Marcos said in an ambush interview.
This comes after a sectoral meeting with the Department of Agriculture and the Department of Trade and Industry, who had proposed indicators that showed when the Philippines could be ready for the removal of the rice price cap.
Despite this, Marcos said that the work to improve the agricultural sector will still persist.
“We still need to fix the agricultural sector. We still need to help the poorest, the hungriest, so that somehow, they can uplift themselves,” Marcos said.
Marcos vowed to continue the assistance that the government has been giving.
“We will continue the assistance that we have been giving to farmers, also the assistance that we have been given to those most underprivileged families,” said Marcos.
Marcos announced the rice price cap back in September to control the increasing rice prices. (Jean Mangaluz © Philippine Daily Inquirer)
