Photo from PCOAt a Palace press briefing, DA-Bureau of Plant Industry Director Gerald Glenn Panganiban said there were several indicators for lifting the price cap, including the decreasing rice prices in local markets during the implementation of the price ceiling in the country. Under the EO, the mandated price cap for regular milled rice is P41 per kilogram, while the mandated price ceiling for well-milled rice is P45.00 per kilogram. Panganiban said around "80 to 90 percent" of rice retailers have complied with the implementation of the mandated price ceilings. Records would show that the supply of rice in the market is equivalent to 52 days by end of September. When asked if there were other conditions the government needed to achieve before Marcos could lift the mandatory price ceilings on rice, Panganiban said, "There are other indicators that may be considered.

Source: Manila Times October 03, 2023 12:59 UTC