Agricultural analysts relieved that price cap has been lifted

Jervis Manahan, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Vendors put up a P45 sign at a box of well-milled rice at the Mega Q-Mart in Quezon City on September 3, 2023, in compliance with the implementation of a price ceiling for regular and well-milled rice in the country. Maria Tan, ABS-CBN News" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/10/04/20230905-rice-price-ceiling-mega-qmart-mt22.jpg"/><figcaption>Vendors put up a P45 sign at a box of well-milled rice at the Mega Q-Mart in Quezon City on September 3, 2023, in compliance with the implementation of a price ceiling for regular and well-milled rice in the country. <em>Maria Tan, ABS-CBN News</em></figcaption></figure></div><p>MANILA - Agricultural analysts said the lifting of price ceiling of rice is favorable to the agricultural sector.</p><p>Prof. Geny Lapina, an agricultural economist, said that this should have been the last resort in addressing the problem in rice prices.</p><p>&quot;The price ceiling is always a legal instrument ng gobyerno, pero sana hindi agad-agad yun ang option na gagawin, sana last resort sya,&quot; Lapina said.</p><p>&quot;It&#x27;s good na finally lifted na siya, that was the clamor, lift and not prolong it,&quot; he added.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/10/04/23/marcos-lifts-rice-price-cap">Marcos lifts price ceiling on rice</a></li></ul><p>Lapina said that the decline in the price of rice cannot be totally attributed to the price cap, as harvest season is the main reason why prices went down.</p><p>&quot;Papasok na ang ani ng ating mga magsasaka so ibig sabihin, medyo dadami na ang supply sa ating merkado, naturally, bababa na ang presyo, so it&#x27;s a more natural decline prices rather than price cap itself,&quot; he said.</p><p>&quot;Kailangan pa rin bantayan ang presyo at importante lang, kailangan well-crafted ang response mo. &#x27;Di kailangan magpunta sa price ceiling,&quot; he added.</p><p>Dr. Roehlano Briones, a senior research fellow at the Philippine Institute for Development Studies specializing in agriculture, said the price ceiling had both good and bad repercussions.</p><p>&quot;Rarely does a policy like this always just have one side. The favorable effect, na discourage yung mga naghahanap ng price manipulation, yung unfavorable effect yun na nga, if you&#x27;re an investor in the rice value chain, mag-hesitate ka ngayon. Parang medyo naging uncertain dahil sa willingness to intervene aggressively,&quot; he told ABS-CBN News.</p><p>Asked how low prices can get, Briones said he cannot give a definite figure yet, as many factors are at play.</p><p>But he agreed that world prices are tamed, and countries have been managing the spikes in prices well.</p><p>&quot;What goes up eventually comes down. Ang tanong na lang, when will it go down. I do agree na you&#x27;ll see some relief dun sa 10% plus increase medyo hinto na yun. Pero whether babalik yung nakita natin ng first quarter ng 2023, yun ang debatable point,&quot; Briones added.</p><p>President Ferdinand Marcos Jr. announced the lifting of the price cap on Wednesday morning.</p><p>Agriculture officials earlier said there have been favorable conditions for its lifting, as there is a high compliance rate, and prices have been going down.</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=2790630" 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>

Agricultural analysts said the lifting of price ceiling of rice is favorable to the agricultural sector.

Agricultural analysts relieved that price cap has been lifted | ABS-CBN

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Agricultural analysts relieved that price cap has been lifted

Jervis Manahan,

ABS-CBN News

Published Oct 04, 2023 06:58 PM PHT

Read More:

price ceiling

price cap

Ferdindand Marcos Jr.

agriculture

PIDS

agricultural economist

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