Issuance of Executive Order No. 39 on price ceilings for regular and well-milled rice
Rice is an essential staple food of Filipinos. In our commitment to making it accessible and affordable, the Department of Trade and Industry (DTI) supports the implementation of Executive Order No. 39 on the Imposition of Mandated Price Ceilings on Rice, which takes effect today, 1 September 2023. As provided in the EO, we will perform our monitoring and enforcement functions in collaboration with the Department of Agriculture (DA) and other concerned agencies.
The price ceiling for regular-milled rice is PHP 41.00/kilogram. For well-milled rice, the price ceiling is PHP 45.00/kilogram. These ceilings were computed based on the average rice prices for the last three months (May, June, and July) following Section 8 of Republic Act No. 7581 or the Price Act and confirmed by cost analysis. It is important to note that these price ceilings will not apply to special and premium rice.
The price ceiling is aimed at protecting Filipino consumers from unfair and exploitative pricing practices. Both the DTI and the broader Philippine government are focused on safeguarding lower-income families and vulnerable communities, who are most affected when prices of essential goods surge unexpectedly.
We recognize the urgency of addressing the escalating rice prices in the market. In parallel, it is imperative to maintain stringent oversight over rice pricing and supply to preclude any potential hoarding and price manipulation by traders and retailers.
To fortify our monitoring and enforcement mechanisms, the DTI will mobilize its price monitors and engage with Local Government Units (LGUs) to activate their Local Price Coordinating Councils. In addition, the DTI will collaborate with the Philippine Competition Commission to undertake measures against cartels and other entities that manipulate prices, thereby ensuring the welfare and protection of consumers.
We urge all consumers to participate in this effort actively. Should you encounter any instances of overpricing or hoarding, please report immediately to the Department via our One-DTI hotline at 1-384 or by emailing ConsumerCare@dti.gov.ph. Together, we can build a more equitable and prosperous nation. ♦
Date of release: 01 September 2023