Marcos optimistic on lower rice prices

📆 9/23/2023 7:30 PM
📰 PhilstarNews

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President Marcos expressed optimism yesterday that the harvesting of palay or unhusked rice would lower rice prices as he expressed readiness to ease rice price controls once the market prices of the food commodity go down.

Speaking to reporters in Camarines Sur, Marcos said it is impossible for price adjustments in agricultural goods not to affect other sectors, so the government has undertaken measures to address it.

“Market forces. Maybe when the market has lower prices, we can ease the control measures we put in place,” he added. The government is also providing financial aid to retailers affected by the policy, which took effect last Sept. 5. In a recent video statement, the President said the production cost of farmers ranges from P14 to P15 per kilo, so the adjusted prices would increase their income.

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