Malacañang said President Ferdinand “Bongbong” Marcos Jr. support the proposed P50 / kilo price cap on imported rice

The Department of Agriculture (DA) recommended to the National Price Coordinating Council a P50 price cap per kilo of imported rice.

“Actually, sabi po ni Secretary Kiko Laurel ay nagbigay na po sila ng rekomendasyon sa National Price Coordinating Council para magkaroon ng deliberation patungkol dito. At ang kanilang price cap na isinangguni ay P50 for imported rice,” Malacanang said.

”So, ito po ang ibinigay din na mungkahi ni Secretary Kiko Laurel kay Pangulo, so ito naman ay sinusuportahan,” Malacanag added.

The DA is eyeing to implement a P50 price cap on imported rice as the agency monitored an “unreasonable” increase in prices, pointing to a supposed exploitation of the global oil shock situation amid the Middle East conflict.

Agriculture Secretary Francisco Tiu Laurel Jr. said the agency monitored that several retailers are selling imported rice at P55 to P58 per kilo.

Among interventions being done by the DA to prevent rice price shock is to make available P45 to P48 per kilo rice in several markets.