MANILA, Philippines (Updated) — 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.
The move 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 to remove the rice price cap.
Despite this, Marcos said the work to improve the agricultural sector will persist.
“Kailangan pa rin natin ayusin and agricultural sector, kailangan pa rin natin tulungan ang mga pinakamahirap, pinakagutom, na para kahit papaano makaahon sila,” said Marcos.
(We still need to fix the agricultural sector. We still need to help the poorest, the hungriest so they can somehow uplift themselves.)
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.
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