President Ferdinand “Bongbong” Marcos Jr. lifted the rice price ceiling on Wednesday, October 4, 2023.
Marcos made the announcement during a rice distribution activity in Taguig City, saying that the price cap will be lifted beginning that day.
The lifting of the rice price ceiling comes after a sectoral meeting with the Department of Agriculture and the Department of Trade and Industry, who had proposed indicators that showed when the Philippines could be ready for the removal of the price cap.
Despite lifting the price ceiling, Marcos said that the government will continue to work on improving the agricultural sector and helping the poorest and hungriest Filipinos.
“We still need to fix the agricultural sector. We still need to help the poorest, the hungriest, so that somehow, they can uplift themselves,” Marcos said in Filipino.
He also vowed to continue the assistance that the government has been giving to farmers and poor families.
“We will continue the assistance that we have been giving to farmers, also the assistance that we have been given to those most underprivileged families,” Marcos said.
Marcos announced the rice price cap back in September to control the increasing rice prices.
Source: PhilNews24 | October 4, 2023
