President Ferdinand "Bonbong Marcos Jr. blamed smugglers and hoarders for the increasing prices of rice in the Philippine market in his departure speech on Monday, before he flew out to attend the 43rd Association of Southeast Asian Nations Summit and Related Summits in Jakarta, Indonesia this week.

Marcos said the Department of Agriculture and other concerned government agencies have not seen any reason why rice prices should increase to up to P50 per kilogram.

"Ngayon sa pag-aaral namin, ang dahilan lamang dito ay talagang nandyan ang mga i-smuggler at saka mga hoarder (Now in our study, the only reason for this is that there are smugglers and hoarders)," he said.

Marcos issued Executive Order No. 39 on 31 August mandating price ceilings for regular-milled rice at P41 per kilogram and well-milled rice at P45 per kilogram.

The EO 39 will be implemented nationwide beginning 5 September.

Marcos vowed the government would continue going after the rice smugglers and hoarders, including the imposition of penalties for those who are found guilty of violating the mandated price cap for rice.

He also directed the DA and DTI to ensure the enforcement of the order in close collaboration with the Department of the Interior and Local Government together with local chief executives and administrators of public and private markets nationwide.

Marcos said the move would just be temporary while waiting for local rice farmers to harvest their produce.

"Kailangan ko maipaliwanag ito po ay pansamantala lamang, hindi ito tatagal. Tayo ay umaani na ng palay, tapos na ang season (I need to explain that this is only temporary, it won't last long. We are already harvesting rice, the season is over)," he said.

"At kayat pagdating ng panahon meron tayong inimport na bigas, sabay sabay na papasok 'yan at makikita basta't dadalhin natin sa palengke, pabayaan uli natin ang presyo ng bigas na maghanap ng sarili niyang presyo (And so when the time comes we have imported rice, it will come in at the same time and once we take it to the market, we will let rice retailers  set their own price)," he added.

"This is a temporary measure, the rice supply will be coming in, the second week of September," Marcos reiterated.