PRICES of regular and well-milled rice have been stable since the implementation of Executive Order (EO) No. 39, which sets the price ceiling on the two varieties of rice in the market, according to the Department of Agriculture (DA).
“[The] DA price monitoring after lifting the price cap shows a stable rice price at the price cap level,” DA Undersecretary Leocadio Sebastian said.
Sebastian made the remark a few days after President Ferdinand R. Marcos Jr. ordered the lifting of EO 39. He said that they are expecting the rice prices to decrease, particularly in rice-producing areas in the Philippines “as the new supply from the ongoing harvest comes in.”
DA Assistant Secretary Arnel de Mesa echoed Sebastian’s statements, saying that majority of the prices of regular and well-milled rice are within and below the PhP41.00 and PhP45.00, respectively based on their report on October 5.
De Mesa said the DA’s monitoring teams and the Bantay Presyo Task Forces (BPTF) in the region are continuously monitoring the rice prices in the market, a few days after President Marcos ordered the lifting of EO 39.
He said the DA has monitored 46 markets in the National Capital Region (NCR) with an overall compliance rate to the mandatory price ceiling of 96.85 percent for regular milled rice and 85.71 percent for well-milled rice.
De Mesa added the Bantay Presyo Task Force in the regions have also recorded more than 89 percent of the well-milled rice retailers and more than 86 percent of regular milled rice retailers selling within the mandatory price ceiling.