Marcos orders P50 per kilo price cap on imported rice for 30 days

MANILA, Philippines — President Ferdinand Marcos Jr. on Wednesday issued Executive Order No. 118, imposing a temporary price ceiling of P50 per kilo on imported rice. Under the EO, the mandatory price cap will be in effect nationwide for 30 days, unless earlier lifted by the President upon the recommendation of the National Price Coordinating Council (NPCC). Marcos adopted the NPCC’s March recommendation to impose a P50-per-kilo price ceiling on imported rice to curb “unreasonable price increases” and prevent market abuse amid price shocks in essential goods caused by the Middle East crisis. “There is a need for urgent measures […]... Keep on reading: Marcos orders P50 per kilo price cap on imported rice for 30 days

Original source: Philippine Daily Inquirer