DTI, DA to tap LGUs in monitoring rice prices

The Department of Trade and Industry, together with the Department of Agriculture, will collaborate with local government units to reactivate their Local Price Coordinating Councils to ensure that the price ceiling on regular and well-milled rice is implemented, Malacañang said on Saturday.

Malacañang said Executive Order No. 39, which mandates a price ceiling of P41 for one kilogram of regular-milled rice and P45 for well-milled rice, will be effective on Tuesday, 5 September. The special and premium rice will have no price ceilings.

In a statement, DTI Secretary Fred Pascual said they recognize the urgency of addressing the escalating rice prices in the market.

"In parallel, it is imperative to maintain stringent oversight over rice pricing and supply to preclude any potential hoarding and price manipulation by traders and retailers," he added.

Pascual noted that the DTI will tap the Philippine Competition Commission to undertake measures against rice cartels and other entities that manipulate the increasing prices of rice in the country.

"To fortify our monitoring and enforcement mechanisms, the DTI will mobilize its price monitors and engage with Local Government Units to activate their Local Price Coordinating Councils," DTI secretary Fred Pascual said in a statement on Saturday.

Pascual emphasized that everyone's participation is needed to "build a more equitable and prosperous nation."

Hence, Public are urged to report immediately to the DTI any instances of overpricing or hoarding through their "One-DTI hotline" at 1-384, or e-mail at ConsumerCare@dti.gov.ph, or may send their complaints about the executive order through the government's 8888 Citizens' Complaint Center.

President Ferdinand R. Marcos Jr. approved on 31 August the recommendation of the DA and the DTI for the mandated price ceilings on regular and well-milled rice.

Pascual said that the ceilings were computed based on the average rice prices for the last three months (May, June, and July) following Section 8 of Republic Act No. 7581, or the Price Act, and confirmed by cost analysis.