The rice price cap ordered by President Ferdinand Marcos Jr. will take effect Tuesday, September 5, Negros Occidental Gov. Eugenio Jose Lacson said Monday.
Executive Order No. 39 issued by Marcos mandates a price cap for regular milled rice at P41 per kilo and P45 for well-milled rice.
The price cap is good for consumers but could affect retailers who bought their stock at higher prices, Lacson said.
But he also noted that the national government has announced plans to provide subsidy to rice retailers.
Qualified small rice retailers affected by the mandated price ceilings on rice in the country are expected to receive financial assistance from the Department of Social Welfare and Development, DSWD Secretary Rex Gatchalian said Monday.
The president has instructed them to utilize their sustainable livelihood program to assist rice traders and retailers under the “capital build-up” mandate of the program, he said.
Only small rice traders and retailers, or the vulnerable groups will receive the government’s aid, he said.*