Rice retailers in Muntinlupa grudgingly complied with President Marcos' order imposing price cap on regular and well-milled rice, saying they are losing money because of the policy.
Muntinlupa Mayor Ruffy Biazon visited a public market in Muntinlupa on Sept. 5 to check the compliance of rice retailers with the price cap.
A sign at the Muntinlupa Public Market on Sept. 6 (Photo from Mayor Ruffy Biazon)
The President issued Executive Order No. 39 on Aug. 31 imposing a mandated price ceiling of P41 per kilo for regular milled rice and P45 per kilo for well-milled rice. The rice price cap took effect on Sept. 5.
While the rice retailers in Muntinlupa complied with the order, one retailer put up a sign that they are losing money.
“Lugi po kami dito (We are losing money on this). Capital: P48/kg,” a sign at a rice store at the Muntinlupa Public Market read, based on a photo uploaded by Biazon.
The sign also stated that a person can only buy a maximum of one kilo of rice.
“I inspected the Muntinlupa Public Market to check compliance with E.O. 39 which put a cap on the price of rice. The rice retailers complied, although they’re hurting,” Biazon posted on Twitter.
On Sept. 5, the mayor met with rice retailers, distributors, grocery owners and public market representatives to discuss the implementation of Marcos’ policy.
“The sellers were silent on following the pricing. They were more vocal on the loss they will incur in selling at a price that is way below their current profitable rate,” said Biazon.
Rice retailers were complaining that they would face a loss of income for rice stocks that they bought at a higher price.