Despite the apprehensions of some sectors and economists, the implementation of the price ceiling imposed on the country’s staple grain is “going as well as we can expect,” President Marcos claimed on Tuesday, Sept. 12.

President Ferdinand Marcos Jr. presides over a sectoral meeting with the top officials of the Department of Trade and Industry (DTI), Department of Agriculture (DA), and Department of Social Welfare and Development (DSWD) on Tuesday, Sept. 12, 2023. (Photo from the Presidential Communications Office)

In a media interview at the Department of Agrarian Reform (DAR) office in Quezon City, the Chief Executive assured that the government was addressing the concerns that were raised by rice retailers.

“We just had a meeting about that this morning. So far, the implementation and enforcement is going as well as we can expect,” he said.

“Syempre, nag-aalangan din ‘yung ibang retailer at hindi natin pwedeng sisihin dahil nga hindi sila nakakatiyak nga dun sa ating ibibigay na kapalit (Of course, the other retailers have apprehensions and we cannot blame them because they are not sure about what we can give),” the President explained.

He underscored that the Department of Social Welfare and Development (DSWD) has already started giving out livelihood grants last Saturday to retailers affected by the price ceiling on rice.

“Nagkaroon naman ng effect na ‘yung iba na ayaw magtinda ng kanilang bigas ay dahan-dahan lumalabas na dahil nakakasiguro sila na kahit papano meron silang matatanggap para kapalit dun sa kung malulugi sila dahil sa pagbili nila ng mataas na presyo at saka sa pagbili nila sa ilalim ng price cap na ginawa natin (It had an effect that those who initially didn’t want to sell slowly releasing stocks because they are now sure they can get something in exchange of their losses since they bought the rice at a high price but had to sell them under the price cap we did),” Marcos said.

The President issued Executive Order (EO) No. 39, putting a price ceiling of P41 per kilogram for regular milled rice and P45 per kilogram for well-milled rice across the country, in answer to its rising cost in the market.

Marcos held a sectoral meeting with key government agencies on Tuesday morning to discuss the updates on the rice price cap at the Malacañan Palace.

But while some rice retailers vowed to work with the government in enforcing the price cap on rice to provide accessible and quality rice to Filipinos, micro and small rice retailers have been hurting because of profit losses.

There were also issues on rice smuggling and hoarding that Marcos has already asked the Bureau of Customs (BOC) to address.

Marcos said that he was hoping the price cap would result in lower prices of rice and other goods in the market.

“Alam ninyo, may sinabi akong sagot dyan, ‘yung presyo susunod diyan. So, titignan na lang natin kung papaano ang takbo (You know, I have an answer to that, the prices will follow that. So, we’ll see what will happen),” he added.

During the meeting, officials of the Department of Agriculture (DA) and Department of Trade and Industry (DTI), as lead agencies in monitoring the strict implementation of EO 39 and investigating its abnormal price movements, gave a summary on the rice monitoring following the issuance of the EO.

While the DA noted “a significant increase in the compliance rate of the mandated price ceiling since its implementation,” the DTI is ready to issue verbal warnings and notice of non-compliance from its monitoring authorities to those who have yet to enforce the price cap.