The Department of Agriculture (DA) assured on Thursday, May 14, the immediate implementation of a ₱50.00/kg price ceiling on imported rice with 5% broken grains, following President Ferdinand Marcos Jr.’s issuance of the Executive Order (EO) No. 118 on Wednesday, which imposes a 30-day price cap on imported rice. The agency also said it will strengthen enforcement against profiteering and price manipulation. 

According to DA Secretary Francisco Tiu Laurel Jr., the price cap is expected to help ease the impact of rising food inflation caused by the oil price surges linked to the ongoing international conflicts. 

Data from the Philippine Statistics Authority (PSA) showed that food inflation rose to 6.1 percent in April from 2.1 percent in March. 

EO No. 118 cited Republic Act No. 7851 or the Price Act, which allows the government to impose price ceilings on essential commodities during periods of price hikes, hoarding, profiteering, and market manipulation. It also referenced Republic Act No. 12022 or the Anti-Agricultural Economic Sabotage Act of 2024, which penalizes illegal activities such as hoarding, cartelization, smuggling, and profiteering involving agricultural commodities. Furthermore, it cited Executive Order No. 110 declaring a state of national emergency due to the ongoing Middle East conflict, noting that global instability has affected supply chains and commodity prices. 

The EO will take effect immediately after its publication in the Official Gazette or in a newspaper for general circulation.

According to Laurel, the National Price Coordinating Council will evaluate the price ceiling within two weeks after its implementation. He added that any possible adjustments, extensions, and removal of the cap may be recommended depending on the market conditions. 

Based on DA Bantay Presyo report released on Wednesday, premium imported rice in Metro Manila is priced at around ₱50.00 to ₱65.00 per kilogram, while the price of imported well-milled rice sells from ₱48.00 to ₱50.00 per kilogram, and imported regular-milled rice ranges at ₱42.00 to ₱43.00 per kilogram.

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