Philippine President Ferdinand Marcos Jr. on October 4 lifted the implementation of the price caps on rice after almost a month since the government imposed the policy to support poor households.
Hanoi (VNA) – Philippine President FerdinandMarcos Jr. on October 4 lifted the implementation of the price caps on riceafter almost a month since the government imposed the policy to support poor households.
Marcos, who is also agriculture secretary, said thePhilippines – among the world's largest rice importers – has adequate ricesupply.
Despite this, the top official said that the work to improvethe agricultural sector and assistance to farmers and the poor will stillpersist.
The President had imposed the price caps, effective early inSeptember, as the rising cost of the national staple resulted in higherinflation. The price ceilings were meant to protect consumers./.
The Philippines has imposed ceilings on rice prices across the country amid an “alarming” increase in retail costs of the staple grain and reports of hoarding by traders.
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