Mandated price cap stabilized rice prices – PBBM

FILE: President Ferdinand R. Marcos Jr. delivers his speech during the distribution of sacks of rice to beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) at the Capiz Gymnasium in Roxas City, Capiz on Friday (Oct. 6, 2023). (PNA photo by Alfred Frias)

MANILA – President Ferdinand R. Marcos Jr. attributed the apparent downtrend in the prices of rice in local markets to the imposition of mandated price ceilings.

In a weekly vlog uploaded on his official Facebook page on Saturday, Marcos said he had directed the lifting the implementation of Executive Order (EO) 39 because rice prices have already stabilized.

EO 39, which took effect on Sept. 5, imposed a price cap of PHP41 on regular milled rice and the PHP45.00 on well-milled rice.

“Ilang beses ko na inihayag sa aking mga talumpati, wala tayong problema sa supply. Patuloy naman din ang pagpapatibay ng iba’t-ibang aspeto ng pagsasaka at agrikultura para mapababa natin ang ating (I have announced several times in my speeches, we have no problem with supply. We are also continuing to strengthen various aspects of farming and agriculture so that we can lower our) cost of production,” he said.

“Irigasyon, mechanization, murang pataba, post-harvest facilities, farm-to-market road, transport cost gaya ng toll at ng tamang timing at balanse ng importasyon — lahat iyan ay kasama sa sistemang ating tinututukan. Sa kabutihang palad, nagsimula ng mag-stabila at bumaba ang presyo ng bigas (Irrigation, mechanization, cheap fertilizers, post-harvest facilities, farm-to-market roads, transport costs such as tolls and the right timing and balance of imports — all of these are included in the system we are focusing on. Fortunately, the price of rice began to stabilize and decrease),” Marcos added.

Marcos assured the public of the government’s continued efforts reduce the cost of production amid the recent surges of prices of basic commodities.

In a weekly forum in Quezon City, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the temporary implementation of rice price ceilings is more of a “warning” from the government for smugglers and hoarders of agricultural commodities to stop its illegal activities.

“It is sending a strong signal na hindi ito-tolerate, ‘yung mga paglabag sa batas lalo na kung mayroon ng (that violations of the law will not be tolerated, especially if there are) allegations of manipulation, speculation, profiteering,” Ricafort said.

“So, paminsan-minsan, kailangan mag-step in, kahit malaya iyong market forces, eh iyong batas ay mapa-iral at masampolan din. Tulad noon, ‘di ba ‘yung mga binibigay ngayon na, ‘yung mga dini-distribute na ibang bigas ay iyong nakumpiska (So, from time to time, you have to step in, even if your market forces are free, the law must enforced to serve a warning. Like distributing the confiscated rice).”

Marcos had distributed sacks of rice to beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) in Tungawan, Zamboanga Sibugay; Barangay San Roque, Zamboanga City; Barangay Santiago, General Trias City, Cavite; Iriga City, Camarines Sur; San Andres, Manila; Dapa Municipal Gymnasium, Siargao Island, Surigao del Norte; San Jose, Dinagat Islands; and, Lower Bicutan, Taguig City.

He also distributed sacks of rice in Roxas City, Capiz; San Jose de Buenavista, Antique; and Kalibo, Aklan on Friday.

The sacks of rice distributed to beneficiaries of 4Ps, the conditional cash transfer program, are part of over 42,000 sacks of rice that were confiscated by the Bureau of Customs in one of its operations in Zamboanga City after importers failed to show the legality of their importation.

The sacks of rice were then donated to the Department of Social Welfare and Development.

With the lifting of the rice price caps, Marcos guaranteed the continued distribution of assistance to affected sectors, including efforts to strengthen and enhance the country’s agricultural sector.

“Bakit natin ito ginagawa? Dahil dapat talagang direktang nakikinabang ang taumbayan sa kawalanghiyaan nitong mga smuggler at hoarder na ito. Malinaw ito na mensahe mula sa pamahalaan na lahat ng uri ng pagmamanipula ng presyo ng bigas at iba pang mga bilihin ay nagpapahirap sa ating mga mamayan at walang lugar ito sa isang Bagong Pilipinas (Why do we do this? Because the people should really benefit directly from these shameless smugglers and hoarders. This is a clear message from the government that all kinds of price manipulation of rice and other commodities make our people poor and have no place in a New Philippines),” Marcos said.

“Kung hindi nakasunod sa batas, hindi natin papayagan para hindi kayo nahihirapan. Ang presyo ng bigas ay hindi napaglalaruan at ang supply ng bigas ay sapat (If you don’t comply with the law, we won’t allow it so you don’t suffer. The price of rice is not manipulated and the supply of rice is sufficient),” he added.

Marcos also maintained that the government is exhausting all legal remedies against rice smugglers and hoarders who are destroying the supply and demand in the market as he emphasized there is enough supply in the country.

He earlier bared that smuggling charges were filed against the San Pedro Warehouse and Blue Sakura Agri Grain Corporation, F.S. Ostia Rice Mill and Gold Rice Mill.

Marcos emphasized that he is more concerned about the movement of prices of basic goods in the market than the movement of his ratings in the recent survey.

“Mga kababayan, ginagawa natin ang lahat upang masiguro ang tuloy-tuloy na pag-stabilize at pagbaba ng presyo ng bigas sa merkado. Walang ibang sukat sa ating panunungkulan ang tumutumbas sa makita ngayon kung komportable at maginhawa ang tao. Iyan ang aking sukatan. Walang gutom o pangamba pagdating sa pagkain.

Iyan po ang Bagong Pilipinas (My countrymen, we are doing everything to ensure the continuous stabilization and reduction of the price of rice in the market. There is no other factor that equates to seeing how comfortable a person is. That’s my measurement. No hunger or fear when it comes to food.

That’s the New Philippines),” he said.