Political Will! PBBM Takes Bold Move, Sets Price Caps For Rice

Pres. Ferdinand R. Marcos Jr. has taken a bold and decisive move to arrest runaway prices of the country’s staple by setting ceilings on selling prices of rice in the market.
In issuing Executive Order 39 yesterday, Aug. 31, Pres. Marcos ordered the Philippine National Police and support agencies to enforce prices of P41 per kilo for regular milled rice and P45 per kilo for well milled rice.
These prices are P9 and P15 lower per kilo than the prices for regular and well-milled rice respectively which were at P50 to P60 per kilo levels before EO 39.
It was a move which I interpreted as a subtle repudiation of the controversial Rice Tariffication Law engineered by Neo-Liberal Economists led by former Finance Secretary Carlos Dominguez.
The RTL virtually gave to the Rice Cartel the control of pricing and supply of the country’s staple food.
When world market rice prices soared following India’s decision to ban rice exports, the Rice Cartel attempted to make a killing by raising rice prices from P40 per kilo to as high as P70 for premium rice.
Pres. Marcos’ EO 39 effectively stumped the devilish agenda of the Rice Cartel.
Consumers will benefit greatly from Pres. Marcos’ action because they will pay at least P9 to P15 less per kilo of rice.
Local farmers will be the long-term beneficiaries of the President’s decision.
While palay prices dropped from P25 per kilo fresh to only P20 this afternoon, this will prove to be just a shock reaction.
At retail prices cap set by EO 39 and the very high prices of rice in the world market now, Importers and Traders, including the Cartel, will not be bringing in imported rice.
They are the biggest losers in this turn of events.
Malulugi sila dahil mataas ang presyo ng imported rice at wala silang kikitain sa Vietnam rice.
Their only option now would be to buy local thus assuring farmers of a good farm gate price.
Once again, government has taken full control of the rice industry even without amending the RTL.
#EO39BrilliantMove!
#PanaloAngTaumbayan!