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Marcos, econ managers to discuss lifting of rice price cap: Diokno

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Andrea Taguines, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt=" President Ferdinand Marcos Jr delivers his speech after the distribution of rice and farm inputs for the residents of General Trias Cavite on September 22, 2023. Jonathan Cellona, ABS-CBN News" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/09/26/20230922-marcos-rice-distribution-cavite-jc-3945.jpg"/><figcaption>President Ferdinand Marcos Jr delivers his speech after the distribution of rice and farm inputs for the residents of General Trias Cavite on September 22, 2023. <em>Jonathan Cellona, ABS-CBN News</em></figcaption></figure></div><p>MANILA - President Ferdinand Marcos Jr. will meet with his economic managers this week to decide on the timeline of the lifting of the rice price ceiling, said Department of Finance (DOF) Secretary Benjamin Diokno on Friday.</p><p>During his weekly chat with the members of the press, Diokno said the decision would be based on several factors including the amount of harvests and importations.</p><p>“(It would be) based on the most recent information. For example, ang magti-trigger noon is, for example, kaya ba talaga ng harvest? Because they’re saying harvest season na ngayon in Mindanao. And then the imports are coming,” explained Diokno.</p><p>But when asked if the price control measure could be lifted as early as this week, he said he could not say yet.</p><p>Diokno said it would ultimately be up to Marcos, who also heads the Department of Agriculture.</p><p>“The President will decide on our meeting on when to lift,” he added.</p><p>Diokno earlier admitted that he and National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan weren’t initially consulted about the price cap.</p><p>But he later clarified that the whole economic team supported its implementation as a stop-gap measure to stabilize spiraling rice prices.</p><p>Last month, Marcos approved Executive Order No. 39, mandating a P41 price ceiling for regular milled rice, and P45 for well-milled rice amid the rising cost of the Filipino staple.</p><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2801733" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

During his weekly chat with the members of the press, Diokno said the decision would be based on several factors including the amount of harvests and importations.

Marcos, econ managers to discuss lifting of rice price cap: Diokno

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Marcos, econ managers to discuss lifting of rice price cap: Diokno

Andrea Taguines,

ABS-CBN News

Published Oct 02, 2023 01:30 AM PHT

|

Updated Oct 02, 2023 08:34 AM PHT

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DOF

Department of Finance

Benjamin Diokno

rice

rice prices

price ceiling

Ferdinand Marcos Jr.

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