They are buying at the same time, the price of rice also rises so we have to put a price cap,” he stressed. Marcos, who is also the agriculture secretary, said below normal rainfall is expected in the coming months due to El Niño that could result in lower yield. The Chief Executive has issued Executive Order 39, mandating a price ceiling of P41 for regular milled rice and P45 for well-milled rice. President Marcos seemed bent on lifting the price cap the government imposed on rice before the month ends, ACT-CIS party-list Rep. Erwin Tulfo revealed on Tuesday. Tulfo explained that there have already been recommendations from farmers’ groups to Marcos, who also sits as agriculture secretary in a concurrent capacity and chairman of the NFA Council.

Source: Philippine Star September 19, 2023 17:59 UTC