PBBM lifts Philippines price cap on rice

PBBM lifts Philippines price cap on rice

HUNDREDS of families in Taguig City, Philippines are now relieved, thanks to the government’s rice distribution program.

President Bongbong Marcos Jr., himself led the activity on Wednesday morning, October 4.

Many of the beneficiaries expressed their gratitude to the President.

According to City Mayor Lani Cayetano, the President’s visit to Taguig holds significant meaning.

“Today’s visit to Taguig is a testament that we are a priority for him. Are we happy that our President visited us? We are important to him,” Mayor Lani Cayetano Taguig City stated.

After the activity, the President announced the removal of the rice price cap under Executive Order 39.

Under the price ceiling, the price of regular milled rice was fixed at ₱41 per kilo, while well-milled rice had a mandated price cap of ₱45 per kilo.

“Well, I think it’s the appropriate time since we are giving out rice. Yes, as of today, we are lifting the price caps on rice, both for regular milled rice and well-milled rice,” according to Pres. Ferdinand ‘Bongbong’ Marcos Jr., Republic of the Philippines.

The Department of Agriculture’s Bureau of Plant and Industry (DA-BPI) had previously indicated several reasons for the President to lift the rice price cap.

This included a decrease in rice prices in the domestic and world markets and an increase in rice supply due to the harvest.

According to DA-BPI estimates, the Philippines expected to harvest around 1.9 million metric tons of rice this month, equivalent to a 74-day supply.

“So, we are removing the controls, but it doesn’t mean we’re done because we still need to improve the agricultural sector, help the poorest and most hungry so they can make some progress,” President Marcos Jr., said.

Following the removal of the price cap, the President assured that assistance to the neediest would continue.

“So, to do that, we will continue the assistance that we have been giving to farmers, and also the assistance that we have been giving to those in the lowest economic class because they are the ones who are struggling,” the President added.

“We have recorded one million food-poor families nationwide. They will be beneficiaries of the President’s pilot program for food stamps. But while we work on the pilot, we will continue to distribute assistance to individuals in crises,” according to Sec. Rex Gatchalian, Department of Social Welfare and Development.

The President acknowledged the high cost of rice in Metro Manila.

Aside from collaborating with the Department of Social Welfare and Development (DSWD), President Marcos will work with Metro Manila Congressmen to provide aid.

PBBM to collaborate with Metro Manila Congressmen for rice distribution

“Now, what we’re going to do is the 33 NCR congressmen will provide assistance. We will distribute rice to various areas in Metro Manila, in the NCR. So, that is another measure that we are taking to ensure that we don’t just remove the price cap and call it a day. This is not over yet,” according to PBBM.

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