Price council backs P50 cap on imported rice - BusinessWorld Online

NPCC backs P50/kg price cap for imported rice

THE National Price Coordinating Council (NPCC) has endorsed to President Ferdinand Marcos Jr. the proposal of the Department of Agriculture (DA) for a P50-per-kilogram (kg) price ceiling on imported rice for 30 days.In a statement on Thursday, the NPCC said it has adopted the DA’s proposal for the imposition of a price cap on 5 percent broken rice.The council said the measure seeks to curb unreasonable price increases and prevent market abuse.Th…

P50 price cap on imported rice backed

A 30-day price ceiling of P50 per kilo for imported rice has been endorsed to President Marcos by the National Price Coordinating Council.

Price council backs P50 cap on imported rice - BusinessWorld Online

THE National Price Coordinating Council (NPCC) said it endorsed the Department of Agriculture’s (DA) proposal to set a P50-per-kilo price ceiling on imported rice. In a statement on Thursday, the NPCC said it will recommend to the President a P50 per kilo maximum for imported rice with 5% broken-grain content, effective for 30 days. “The NPCC hereby endorses to the President the issuance of the necessary executive order to ensure affordable rice…