DA says 95% of rice retailers comply with price caps

The Department of Agriculture (DA) on Thursday said most rice retailers have complied with the government-mandated price ceilings on regular and well-milled rice varieties.

“So far, as of yesterday, nagkaroon tayo ng 95% na success rate (we saw a success rate of 95%),” DA deputy spokesperson Wiann Angsiy told reporters in an interview.

“This means na nag-comply po ang ating mga retailers (that our retailers have complied),” Angsiy said.

Last week, President Ferdinand "Bongbong" Marcos Jr. approved the recommendation to impose price ceilings on two commonly purchased rice varieties across the country amid the skyrocketing prices in local markets, which ranged from P45 to P70 per kilo.

The mandated price ceiling for regular milled rice is P41 per kilo while the mandated price cap for well-milled rice is P45 per kilo, according to Executive Order 39.

Retailers, however, expressed fears that they would be forced to close their stores, lamenting on their losses as they are compelled to sell their stocks at lower prices. 

“Even if may mga umaalma, patuloy pa rin tayong nagdi-disseminate ng information para ma-explain sa kanila na talaga pong importanteng sumunod dito sa price cap,” Angsiy said.

(Even if there are those resisting, we continue to explain why it is important to comply with the price cap.)

The DA official said retailers who will comply will receive cash aid from the government.

“Mabibigyan natin sila ng ayuda basta po ay sumunod lamang sila,” she said.

(They will be given cash assistance as long as they follow.)

Department of Social Welfare and Development Secretary Rex Gatchalian earlier said small retailers affected by the price cap may receive P15,000 financial assistance under the DSWD's Sustainable Livelihood Program.

The Department of Trade and Industry (DTI) and the DA, on the other hand, will come up with a mechanism and a list of beneficiaries for the aid.

Trade Assistant Secretary Agaton Uvero said the financial aid is targeted to be distributed to qualified rice retailers affected by the price cap before the end of the week. 

Apart from financial assistance, Angsiy said the DA will also provide retailers and farmers with direct market linkages and logistics support.

The DA official also reiterated that the price cap measure is only temporary and transitional.

Marcos said Monday that the mandatory price ceiling on rice would only be temporary as he emphasized that the harvest season in the Philippines is already finished and that the rice imported from other countries will soon arrive.

“By the end of October 2023, most of the estimated 2.92 [million] metric tons of palay would come from 15 provinces. ‘Yan ang projected, which we assume would be enough based on our projections,” Angsiy said.

She added that the projected output by the end of next month would help stabilize prices, which would be a major factor to lift the price ceiling.  —KBK, GMA Integrated News