The Foundation on Economic Freedom fears that a price cap on rice will harm Filipino consumers and farmers
that sets the price ceiling at P41 per kilo for regular milled rice, and P45 per kilo for well-milled rice. The move was upon the recommendation of the Department of Agriculture, which he leads as secretary, and the Department of Trade and Industry.
NEDA pointed out that the price ceiling is not an isolated approach on the issue, and that it goes hand in hand with the continued crackdown on hoarding and excessive profiteering, among others. In a statement on Saturday, the think tank said that Marcos’ Executive Order 39 will “harm Filipino consumers and farmers, and the entire economy” as it will drive away supply and fuel the black market, and that traders will use it to justify lowering the buying prices from farmers.
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