Speaker Ferdinand Martin G. Romualdez, accompanied by Deputy Majority Leader and ACT-CIS Rep. Erwin Tulfo and Departments of Trade and Industry and Agriculture officials visited Guadalupe Market in Makati City, Nepa-Q Mart and Farmers Market in Quezon City Wednesday (Sept. 11, 2024) to check on the prevailing rice prices. They confirmed drop in prices as inflation rate for rice slowed down August — regular and well-milled rice are now priced at P42 to P45 to P46 a kilo.
SPEAKER Martin G. Romualdez welcomed the significant decline in the prices of rice after confirming the availability of rice selling by as low as P42 per kilo during a visit to three key markets in Metro Manila Wednesday morning.
The Speaker visited Guadalupe Market in Makati, as well as the Farmers’ Market and Nepa Q-Mart in Quezon City upon the invitation of the Philippine Rice Industry Stakeholders’ Movement (PRISM), a large organization of rice traders, the Department of Trade and Industry (DTI) and the Department of Agriculture.
He attributed the drop in rice prices to the effective interventions made by the administration of President Ferdinand “Bongbong” Marcos Jr. to reduce the costs of the Filipino staple, stabilize the food supply and protect consumers from price surges.
“Nakita natin may 45 pesos kada kilo, meron ding 42 pesos for broken rice, yung well-milled P45. At yun talaga ang gusto nating makita, na pababa ng pababa (ang presyo ng bigas),” Speaker Romualdez said.
“On behalf of the House of Representatives, we welcome this positive development. This is truly in line with the Marcos administration’s commitment to ensuring that food, particularly rice, remains affordable and accessible for all Filipinos,” the leader of the 300-plus-strong House of Representatives added.
He expressed hopes the trend will continue to bring much-needed relief to Filipino families, particularly in the coming Christmas season.
“Yung nakita po namin dito na factor, yung pagbaba po ng taripa from 35 percent to 15 percent. So natutuwa po yung mga retailers natin saka yung mga consumers natin,” said Orly Manuntag of PRISM, citing Executive Order No. 62 President Marcos signed last June 20, which effectively reduced tariff on imported rice.
Accompanying the Speaker during the market visit were Deputy Majority Leader Erwin Tulfo, along with fellow ACT-CIS Partylist Rep. Edvic Yap, and committee on agriculture chairman and Quezon 1st District Rep. Mark Enverga.
DTI Price Control Assistant Secretary Agaton Uvero, DA Agribusiness and Marketing Assistance Services Assistant Secretary Bebang Guevarra, and DTI representatives Director Fhillip Sawali, Division Chief Rosita Jaleco and Assistant Division Chief Joel Buag also joined the party of Speaker Romualdez during the market visit.
In addition to the decisive action of President Marcos on rice tariff, Speaker Romualdez also cited the initiatives of the House leadership, including collaboration with rice traders, as a factor in the drop in the price of the staple food.
“Together with PRISM and other stakeholders, we have been actively working to stop rice hoarding and price manipulation. I would like to commend the rice traders who have responded to our call to make rice affordable and available for everyone,” the Speaker said.
It could be recalled that Speaker Romualdez led fact-finding missions to inspect rice warehouses in Bulacan, where instances of hoarding were discovered. These investigations, Speaker Romualdez noted, have been crucial in bringing unscrupulous traders to light and ensuring that rice stocks are released to the market.
“The Marcos administration is committed to implementing long-term solutions, such as increasing domestic rice production, improving import regulations, and penalizing those involved in illegal trade practices,” Speaker Romualdez said.
“President Ferdinand Marcos Jr. has made it clear that food security is a top priority for his administration. This is not just about lowering prices temporarily, but about ensuring a sustainable supply chain that benefits both consumers and farmers,” he added.
Guevarra said that additional farm input programs being implemented by the department is expected to boost rice productivity by next year, which could further bring down prices of the staple food.
Meanwhile, Speaker Romualdez also called on local government units and private stakeholders to support ongoing initiatives aimed at bringing down the cost of essential goods, emphasizing that everyone has a role to play in stabilizing the market.
“As we continue to work towards this goal, we ask for the cooperation of all stakeholders. This is a whole-of-nation approach, and together, we will make sure that no Filipino family goes hungry,” he continued.
“This price reduction is just the beginning. We will not stop until rice is affordable to every Filipino family. We remain committed to improving the livelihoods of our farmers while ensuring that consumers are not overburdened by high prices.”
