Marcos lifts rice price capRice dealers display rice and their prices at New York Street, Cubao, Quezon City on April 16, 2023. MANILA, Philippines — President Ferdinand Marcos Jr. has announced the immediate removal of the price ceiling on rice after about a month since its imposition. 39 had imposed a P41 per kilogram cap on regular-milled rice and P45 per kilogram on well-milled rice. Rice retailers have heavily opposed the price ceiling due to the larger overhead costs that come with trading the household staple. The “contradictory” government policies on rice regulation had even prompted Sen. Risa Hontiveros to file a Senate resolution seeking a probe into it, particularly the setting of a price ceiling and removal of tariffs on rice.
