DTI says rice prices easing after caps imposed

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DTI says rice prices easing after caps imposed
Jervis Manahan,
ABS-CBN News
Published Sep 21, 2023 07:01 PM PHT

MANILA - The Department of Trade and Industry (DTI) said rice prices have started to go down weeks after the implementation of the price ceiling for regular and well-milled rice.
MANILA - The Department of Trade and Industry (DTI) said rice prices have started to go down weeks after the implementation of the price ceiling for regular and well-milled rice.
DTI Director Fhilip Sawali said the price of rice has gone down with the strong compliance of retailers with the price caps.
"Base sa datos at mga reports from the field, nakikita po natin na talagang may malaking pagtaas ng compliance rate and malaking pagbaba ng presyo, at least mga varieties na apektado ng EO 39," he said.
DTI Director Fhilip Sawali said the price of rice has gone down with the strong compliance of retailers with the price caps.
"Base sa datos at mga reports from the field, nakikita po natin na talagang may malaking pagtaas ng compliance rate and malaking pagbaba ng presyo, at least mga varieties na apektado ng EO 39," he said.
DA's Bantay Presyo indicated that as of Thursday, the price of local rice ranged from P40 to P62, while imported rice ranged from P44 to P60.
DA's Bantay Presyo indicated that as of Thursday, the price of local rice ranged from P40 to P62, while imported rice ranged from P44 to P60.
Sawali said this is a good indicator that the price ceiling is working and may be lifted anytime soon.
Sawali said this is a good indicator that the price ceiling is working and may be lifted anytime soon.
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"May utos po ang pangulo sa DA at DTI to make a joint recommendation if there are strong indicators na itong price cap po ay effective at may nakikitang magandang epekto," Sawali said.
"May utos po ang pangulo sa DA at DTI to make a joint recommendation if there are strong indicators na itong price cap po ay effective at may nakikitang magandang epekto," Sawali said.
Retailers in Commonwealth Market said that the price of rice has indeed stabilized and that they can now sell well-milled rice at P45 pesos without losses.
Retailers in Commonwealth Market said that the price of rice has indeed stabilized and that they can now sell well-milled rice at P45 pesos without losses.
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