(UPDATE) THE Department of Trade and Industry (DTI) will mobilize its "price monitors" to ensure that the mandated price caps on rice are enforced when they take effect on Tuesday, Malacañang said Saturday. Rice stand along Nepa Q-Mart in Quezon city on August 23 2023.the price of the regular rice goes high as 60php per kilo. President Marcos approved on August 31 the recommendation of the DA and DTI for the mandated price ceilings on regular and well-milled rice. Under EO 39, the mandated price for regular milled rice is P41 per kilogram, while the price cap for well-milled rice is P45 per kilogram. However, Salceda also warned that price ceilings can have negative second-round effects, such as shortages, which could be prevented by putting the price ceiling no higher than the equilibrium price.
