The Department of Agriculture (DA) announced the immediate implementation of a ₱50-per-kilo price cap on 5% broken imported rice after President Ferdinand Marcos Jr. signed Executive Order No. 118.
Officials said the measure aims to curb rising food costs after food inflation climbed to 6.1% in April. Authorities also warned traders against profiteering, hoarding and price manipulation during the 30-day implementation period.
The order will take effect once it is published in the Official Gazette or in a newspaper of general circulation. Based on DA Bantay Presyo monitoring, premium imported rice in Metro Manila currently sells for ₱50 to ₱65 per kilo.
Agriculture Secretary Francisco Tiu Laurel Jr. said the temporary price cap is intended to help households struggling with rising food expenses. The Philippine Statistics Authority (PSA) earlier reported that food inflation sharply increased from 2.7% in March. “We will implement this immediately once it takes effect to help the general public cope with rising food costs,” Tiu Laurel said, as authorities prepared enforcement operations against market manipulators.
The department said the Price Act and the Anti-Agricultural Economic Sabotage law allow authorities to go after hoarders, profiteers and cartels. Executive Order No. 118 also directed the Department of Trade and Industry (DTI), the Department of the Interior and Local Government (DILG) and law enforcement agencies to assist in enforcement efforts nationwide.
Meanwhile, the National Price Coordinating Council (NPCC) will review the price ceiling every 15 days during its implementation. Depending on market conditions, the council may recommend adjustments, an extension or an earlier lifting of the cap.
