Price cap on rice only 'temporary', NEDA says after stakeholders air concern
Job Manahan, ABS-CBN News
MANILA — The National Economic Development Authority (NEDA) on Sunday sought to allay stakeholders' concerns on the rice price ceiling, which it said was only temporary.
President Ferdinand Marcos, Jr. set the price cap for regular milled rice at P41 per kilo and for well-milled rice at P45 a kilo. This will take effect on September 5, the Palace said.
NEDA Secretary Arsenio Balisacan said Marcos' executive order on the price ceiling was not a standalone measure to lower rice prices.
“We are confident that the imposition of a price ceiling is only a temporary measure. We expect rice harvest to commence soon and anticipate that...