DTI to form task force to help retailers amid rice price cap

Trade and Industry Secretary Alfredo Pascual has ordered his department' s officials to create a special task force that will ensure the efficient implementation of the Executive Order 39 setting a price cap on regular-milled rice at P41 per kilogram and well-milled rice at P45 per kilo.

This was after various traders aired complaints against the EO, saying it would badly affect their businesses and could result in lower farm gate prices to the detriment of farmers.

The formation of the task force followed President Ferdinand Marcos Jr.s' order to immediately distribute financial aid to retailers who might be affected by the EO implementation.

The DTI will implement the following forms of assistance to rice retailers/wholesalers, including small supermarkets that will be affected by the price ceiling: (1) financial assistance; (2) loan programs; (3) logistics support; and (4) market linkages and support.

The Department of Social Welfare and Development, on the other hand, will provide financial aid or compensation to retailers/wholesalers in wet markets and neighborhood sundry stores to cover the difference between the cost of the current inventory of rice and the price ceiling.

The government will likewise provide transportation in delivering rice from traders to retailers to reduce logistical costs.

Further, market linkages will be established to link local farmers with supermarket chains and other retailers and promote bulk buying or advance purchase of supermarkets, restaurants, hotels, resorts and other commercial establishments.

Members of the DTI Special Task Force will work in coordination with the Agriculture department, local government units and the Local Price Coordinating Councils. DTI will mobilize associations to gather a list of retailers and properly identify potential beneficiaries.

"Currently, we are working with other government agencies to facilitate the profiling and validation of retailers, which shall be the basis for the distribution of financial aid by DSWD as early as next week. We are also set to conduct visits in warehouses in various locations to ensure that there is enough supply and discourage hoarding. As instructed by DTI Secretary Fred Pascual, the task force will ensure that consumers are protected and retailers will receive the assistance they need as the E.O. takes effect," DTI Assistant Secretary Agaton Uvero said.

The price cap for rice will start tomorrow, 5 September, as the government's temporary solution to the skyrocketing prices of rice in the past weeks.