The Department of Agriculture (DA) said a price cap on imported rice may be in place by the end of April.
Agriculture Secretary Francisco Tiu Laurel Jr. said the proposed cap is P50 per kilo and will apply only to imported rice. The recommendation came from the National Price Coordinating Council and will be submitted to President Ferdinand Marcos Jr. for approval.
Once signed, the DA said the cap could take effect within two days under the Price Act. An executive order from the president is required to enforce the measure, along with rules and penalties for violators.
The DA clarified that local rice will not be covered, as the country is currently in peak harvest season. Officials expect local rice prices to ease due to increased supply.
As of April 8 in the National Capital Region, prices were around:
• Local well-milled rice: P45/kg
• Local regular rice: P40/kg
• Imported well-milled rice: P48/kg
• Imported regular rice: P43/kg
• Special and premium rice (local and imported): up to P60/kg
