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RICE prices have stabilized following a cap to contain a price surge, Malacañang said Friday.
Citing a statement from the officials of the Department of Agriculture (DA), Presidential Communications Secretary Cheloy Garafil said regular- and well-milled rice were retailing within P41 and P45, respectively, as of October 5.
Agriculture Undersecretary Leocadio Sebastian said the department expects rice prices to drop, particularly in rice-producing areas, “as the new supply from the ongoing harvest comes in.”
Last Wednesday, President Ferdinand Marcos Jr. lifted the price ceiling, saying the government has implemented various measures to ensure ample supply and boost production.
Executive Order 39, which took effect on September 6, capped the per-kilo price of regular-milled rice at P41 and well-milled rice at P45.
Based on DA monitoring, local regular-milled rice was being sold from P40 to P44 a kilo, and local well-milled rice was priced from P44 to P48. Imported well-milled rice was selling from P45 to P48.
Agriculture Assistant Secretary Arnel de Mesa said DA teams and the Bantay Presyo Task Forces in the National Capital Region (NCR) are continuously monitoring the market prices of rice after the President removed the cap.
De Mesa said 46 markets in the region had an overall price compliance rate of 96.85 percent for regular-milled rice and 85.71 percent for well-milled rice.
The Bantay Presyo Task Force in the region also recorded more than 89 percent compliance by well-milled rice retailers and more than 86 percent by regular-milled rice retailers, de Mesa said.
President Marcos has also ordered the DA and the Department of Finance to speed up the distribution of assistance to rice farmers.
In his speech during the distribution of seized smuggled rice to around 1,000 Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries in Roxas City, Capiz, the President ensured that his administration is committed to improving the productivity and income of farmers, especially amid the spike in rice prices.
“This is just the beginning of the government’s initiatives to improve the lives of Filipinos,” Marcos said.
“From the strengthening of the country’s agriculture and the expansion of benefits offered by other sectors, I am happy to see that many are benefiting from our projects. It just means that our leadership direction is headed in the right direction,” he said.
Marcos said that over 10,000 recipients from Capiz will benefit from the Rice Farmers Financial Assistance (RFFA) Program, an initiative that provides financial assistance for farmers tilling below 2 hectares.
He said small farmers would be able to receive machinery and seedlings, undergo training, attend seminars, and borrow money through the Rice Competitive Enhancement Program.
Last week, Marcos ordered P12.7 billion released for the RFFA program.
Under the program, about 2.3 million small rice farmers will receive P5,000 each.
In their own joint “Malaya Rice Project,” the House of Representatives and the Department of Social Welfare and Development (DSWD) will distribute an aid package of P1,000 cash and 15 kilograms of rice to around 2.5 million families.
In a press briefing on Thursday night, House Speaker Ferdinand Martin Romualdez said the program is in line with the President’s objective to make available more affordable, quality rice to the people, especially to the most needy.
The project will be implemented first in Metro Manila as ordered by the President, Romualdez said, in partnership with the region’s 33 lawmakers and DSWD Secretary Rexlon Gatchalian.
Romualdez has asked the NCR lawmakers to identify 10,000 indigent residents who will receive the assistance, including senior citizens, solo parents and persons with disabilities.
“And we’ll try to do this in other areas like Metro Cebu, Davao, in the big areas, and then further find out throughout the country, even in the rice-producing areas, with the intent of buying palay at the right prices so that we make sure that everyone is afforded quality and affordable rice,” Romualdez said.
The President is also calling for the adoption of modern farming practices and the development of cutting-edge technologies to boost agricultural growth.
In a message delivered by Agriculture Senior Undersecretary Domingo Panganiban during the opening ceremony of the AgriLink/FoodLink/Aqualink 2023 on Thursday, Marcos said a strong partnership between the private and public sectors is important for the country’s agribusiness.
— Catherine S. Valente and Red Mendoza
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