The National Price Coordinating Council (NPCC) has approved a proposal from the Department of Agriculture to set a temporary price ceiling of ₱50 per kilogram on imported rice (5 percent broken).
The proposed cap will last for 30 days and will be recommended to the President for approval.
The NPCC said the measure is based on the Price Act (Republic Act No. 7581), as amended, and is in line with Executive Order No. 110. It aims to stop unreasonable price increases and prevent possible market abuse.
The council is urging the President to issue the necessary executive order to enforce the price cap, with the goal of keeping rice affordable for consumers while maintaining market stability.
The DA in January last year considered imposing a price cap to help curb unreasonable adjustments and even pushed and eventually adopted a maximum suggested retail price structure on imported rice for the same reason.
