Malacañang has directed the Department of Agriculture (DA), under Secretary Francisco Tiu Laurel Jr., to implement a national floor price for palay (unhusked rice) to protect local farmers and prevent price manipulation in the rice market.
Under Executive Order No. 100, President Ferdinand “Bongbong” Marcos Jr. instructed the DA to establish and regularly adjust the floor price of palay to ensure that farmers do not incur losses amid fluctuating market conditions.
The new policy comes after complaints from farmers that palay prices have dropped to ₱14 to ₱16 per kilo in several provinces, while the price of imported rice has reportedly surged to as high as ₱50 per kilo in retail markets.
Marcos emphasized that stabilizing the price of palay is crucial to balancing the welfare of both farmers and consumers. He said ensuring fair farmgate prices would help make rice more affordable while sustaining the livelihood of Filipino farmers.