By Darryl John Esguerra | Philippine News Agency
President Ferdinand R. Marcos Jr. is studying a recommendation to extend the government’s P50 per kilo maximum suggested retail price (MSRP) on imported rice beyond its scheduled expiration as part of efforts to keep food prices stable amid global uncertainties, Malacañang said Wednesday.
Palace Press Officer Claire Castro said the National Price Coordinating Council has recommended extending the price cap, which was initially imposed to temper rising rice prices and protect consumers.
“Inaaral pa po ito ng Pangulo para sa kanyang approval dahil tinitignan na malapit na ang anihan sa September kaya kino-consider ito ng Pangulo,” Castro said during a Palace briefing.
The Department of Agriculture (DA) earlier recommended a 60-day extension of the P50 per kilo MSRP for 5% broken imported rice beyond June 30 to sustain gains in curbing rice inflation.
The government implemented the MSRP in May following a sharp increase in rice prices driven by supply concerns and global market disruptions linked to the conflict in the Middle East.
Castro said the administration is also pursuing additional interventions to stabilize food prices amid expectations of higher inflationary pressures in the second half of the year due to continuing geopolitical tensions and volatility in global commodity markets.
She said President Marcos Jr. has directed the DA to ensure an adequate supply of fertilizer amid rising global demand partly caused by the ongoing crisis in the Middle East.
“Sa kasalukuyan po, ang ating gobyerno ay nagbibigay ng mga abono at pataba sa ating mga magsasaka dahil planting season na so mas mababa ang cost production nila, which would mean lower po ang cost ng palay once harvest season,” she added.
Castro also said the government continues to invest in post-harvest facilities and cold storage infrastructure to reduce food losses and improve supply chain efficiency.
