The Marcos administration’s imposition of a price cap on rice and new prices for palay as well as its subsidy for rice retailers could be “costly” to the government, according to resigned finance undersecretary Cielo Magno. The government can ill afford the costs arising from the three policy packages because these are not part of...
Tag: rice
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Tarlac rice farmers, retailers suffering losses due to price cap
Rice farmers and retailers are incurring heavy losses from the price cap imposed starting on Sept. 5 on regular-milled and well-milled rice even as it brings temporary relief to consumers. Executive Order No. 39 (EO 39) set the price of regular-milled and well-milled rice at P41 and P45 a kilo, respectively, amid soaring prices of...