Ferdinand Marcos Jr. announced on Tuesday, March 31, that he approved a recommendation to cap the price of imported well-milled rice at ₱50 per kilo, with an executive order to be issued to implement the measure.
Marcos said the National Price Coordinating Council recommended the price ceiling to prevent increases in food costs linked to rising oil prices.
He said the government aims to stabilize rice prices and avoid broader increases in the cost of basic goods.
The President also said the government expanded its ₱20-per-kilo rice program, with 627 distribution centers now operating nationwide. He said supply under the program increased from 600 tons to 2,000 tons due to higher demand.
Marcos said prices of basic necessities and prime commodities remain at suggested retail price levels, including rice.
He added that the government continues to coordinate with manufacturers and retailers to delay price increases until next month.