Palace press officer, Undersecretary Claire Castro, said that the Department of Agriculture (DA) is considering extending the P50 rice price cap as the regulation is set to expire on 30 June.
In a press briefing, Castro said there is a possibility that the extension of the maximum suggested retail price (MSRP) for the staple will be greenlighted by DA Secretary Francisco Tiu-Laurel Jr., making the commodity affordable for consumers.
“Ang sabi po mismo ng DA ay magrerekomenda pa rin po sila ng extension of the price cap, at ito naman po ay titingnan po natin kung sasang-ayunan pa rin po ng National Price Coordinating Council at kung aaprubahan ng Pangulo. Pero magrerekomenda po sila ng extension for the price cap,” Castro said.
However, the Palace spokesperson said that no final decision has been made yet, as the proposal must still undergo evaluation by the National Price Coordinating Council before being submitted for the President’s approval.
The National Price Coordinating Council (NPCC) is composed of key government agencies, primarily the DA and the Department of Trade and Industry, and representatives from the private sector. Established under the Price Act, the council is tasked with coordinating price monitoring and stabilizing the supply of basic necessities and prime commodities.
Asked whether the extension could be approved before 30 June, Castro said this remains the objective of the DA.
Meanwhile, Castro also confirmed that some rice retailers are under investigation for allegedly failing to comply with the government-imposed price cap.
According to Castro, the DA has already begun issuing notices to establishments suspected of violating the policy while investigations are ongoing.
Malacañang likewise urged the public to help monitor compliance with the rice price cap by reporting any suspected violations to the proper authorities.
Castro said the DA has yet to provide the exact number of rice retailers currently under investigation, but confirmed that notices have already been issued to several establishments for possible violations.
the DA Bantay Presyo said that to date, premium imported rice in Metro Manila sells at P50 per kilo, while the price of imported well-milled rice ranges from P46 to P62 per kilo, and imported regular-milled rice at P45 to P48 per kilo.
On the other hand, local premium rice is at P48 to P62 per kilo, while the prevailing prices of local well-milled rice and regular milled rice are pegged at P50 per kilo and P45 per kilo, respectively.
Secretary Tiu-Laurel Jr. said his department also wants to maintain the temporary regulation on the prices of retail imported rice.
