President Ferdinand Marcos Jr. is backing a proposal to impose a price cap on imported rice to prevent sudden spikes in costs, Malacañang confirmed Monday.
Communications Undersecretary and Palace Press Officer Claire Castro said the Department of Agriculture (DA) recommended a ₱50-per-kilo ceiling for imported rice to the National Price Coordinating Council.
“Actually, sabi po ni Secretary Kiko Laurel ay nagbigay na po sila ng rekomendasyon sa National Price Coordinating Council para magkaroon ng deliberation patungkol dito. At ang kanilang price cap na isinangguni ay ₱50 for imported rice,” Castro explained.
She added that Agriculture Secretary Francisco Tiu Laurel Jr. relayed the proposal directly to the President, who expressed support.
“So, ito po ang ibinigay din na mungkahi ni Secretary Kiko Laurel kay Pangulo, so ito naman ay sinusuportahan,” Castro said.
The DA said the move follows monitoring of what it described as unreasonable price increases, with some retailers selling imported rice at ₱55 to ₱58 per kilo.
Officials suspect certain traders may be exploiting the surge in global oil prices triggered by the Middle East conflict.
To cushion consumers, the DA has also been supplying rice to select markets at ₱45 to ₱48 per kilo.