Govt ready to lift rice price cap, says Agriculture official

The Manila Times

Govt ready to lift rice price cap, says Agriculture official  Agriculture Director Gerald Glenn Panganiban holds a press briefing after the sectoral meeting in Malacañang on Tuesday, Oct. 3, 2023. Panganiban said the government is ready to lift the price ceiling on rice, citing a decrease in the price of the staple in the market and the expected increase in supply during the harvest this month.  VIDEO BY CATHERINE VALENTE  Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe    Visit our website at https://www.manilatimes.net    Follow us:  Facebook - https://tmt.ph/facebook  Instagram - https://tmt.ph/instagram  Twitter - https://tmt.ph/twitter  DailyMotion - https://tmt.ph/dailymotion    Subscribe to our Digital Edition - https://tmt.ph/digital    Check out our Podcasts:  Spotify - https://tmt.ph/spotify  Apple Podcasts - https://tmt.ph/applepodcasts  Amazon Music - https://tmt.ph/amazonmusic  Deezer: https://tmt.ph/deezer  Stitcher: https://tmt.ph/stitcher Tune In: https://tmt.ph/tunein   #TheManilaTimes  #relief  #rice  #price

Transcript

00:00 In a sectoral meeting led by President Ferdinand Marcos Jr. this morning, the Department of

00:05 Agriculture presented a report on the proposed indicators of the current Executive Order

00:10 39 or the price ceiling on regular and well-milled rice.

00:15 To give us more details on this, we have with us the Department of Agriculture Bureau of

00:20 Plant Industry Director Gerald Glenn Panganiban.

00:24 Good afternoon, Director Panganiban.

00:25 Good afternoon.

00:26 Go ahead with the briefing.

00:27 Just to brief the media on what happened this morning.

00:35 We presented the status of our compliance with the EO 39 and indicators point that there

00:44 are increasing prices observed in market from our implementation starting last month until

00:54 today.

00:55 And we are expecting an increased supply of our local harvest coming this last quarter

01:02 for October, November and the rest of the year.

01:06 And favorable factors externally has been reported, a drop in the export prices of rice

01:16 in the global market has also been reported.

01:20 So, yeah, the increase in compliance and then we have seen or we have received reports from

01:28 our regional offices, our field rice institute about our bumper harvest coming.

01:35 So we expect a stable supply and hopefully we can decide on the price gap.

01:45 How soon do we expect the lifting of the price ceiling?

01:51 Since we already have those indicators ready and I cannot say the duration but the indications

02:02 point to that.

02:03 So we will just keep you updated as soon as there will be a decision.

02:08 Thank you.

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