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Manila Bulletin devider Philippines devider National devider Monitor rice prices; go after hoarders, price manipulators --- PBBM

Monitor rice prices; go after hoarders, price manipulators --- PBBM

Published Aug 16, 2023 05:49 am

President Ferdinand "Bongbong" Marcos Jr. warned anew rice hoarders and price manipulators in the country amid the reported price increase of rice in the market.

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President Ferdinand 'Bongbong' Marcos Jr. (Noel Pabalate)

Marcos issued the stern warning as he ordered the Department of Agriculture (DA) and Department of Trade and Industry (DTI) to closely monitor the prices of rice in the different markets.

He reiterated that the government will run after hoarders and manipulators who take advantage of the lean months before the harvest season.

The President, however, assured the public that there is an ample supply of rice in the country.

He said that the administration is now working closely with the private sector to rationalize the prices and availability of affordable rice in the market and in Kadiwa stores.

"Rice supply is sufficient. Prices are, however, very variable. The government is working with the private sector to rationalize the prices and make available affordable rice in the market and in Kadiwa,” Marcos said.

The DA, which the President heads in a concurrent capacity, has reported that retailers are selling rice at different price points with some selling rice at P38-P40 per kilo as the cheapest while some are selling their cheapest variety at P50 per kilo.

Related Tags

DTI bongbong marcos jr hoarders Department of Agriculture President Marcos Rice prices
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