SPEAKER ROMUALDEZ HAILS DROP IN RICE PRICE TO ₱42 PER KILO, CITES PBBM INTERVENTION AS FACTOR

Speaker Martin G. Romualdez welcomed the significant decline in the prices of rice after confirming the availability of rice selling by as low as P42 per kilo during a visit to three key markets in Metro Manila Wednesday morning. 

The Speaker visited Guadalupe Market in Makati, as well as the Farmers’ Market and Nepa Q-Mart in Quezon City upon the invitation of the Philippine Rice Industry Stakeholders' Movement (PRISM), the Department of Trade and Industry (DTI) and the Department of Agriculture. 

The Speaker attributed the drop in rice prices to the effective interventions made by the administration of President Ferdinand “Bongbong” Marcos, Jr. to reduce the costs of the Filipino staple, stabilize the food supply and protect consumers from price surges.

Romualdez said that there is  a trend seen in the lowering of rice prices in the market and that is what the people want.

He added that on behalf of the House of Representatives, they welcome this positive development. This is truly in line with the Marcos administration’s commitment to ensuring that food, particularly rice, remains affordable and accessible for all Filipinos.

THIS IS TERENCE MORDENO GRANA REPORTING FOR AFP COMMUNITY NEWS, ONE AFP FOR STRONGER PHILIPPINES

He expressed hopes the trend will continue to bring much-needed relief to Filipino families, particularly in the coming Christmas season.

“Yung nakita po namin dito na factor, yung pagbaba po ng taripa from 35 percent to 15 percent. So natutuwa po yung mga retailers natin saka yung mga consumers natin,” said Orly Manuntag of PRISM, citing Executive Order No. 62 President Marcos signed last June 20, which effectively reduced tariff on imported rice.

Accompanying the Speaker during the market visit were Deputy Majority Leader Erwin Tulfo, along with fellow ACT-CIS Partylist Rep. Edvic Yap, and Agriculture Committee Chair and Quezon  1st District Rep. Mark Enverga. 

DTI Price Control Asec. Agaton Uvero, DA Agribusiness and Marketing Assistance Services Asec. Bebang Guevarra, and DTI representatives Dir. Fhillip Sawali, Div. Chief Rosita Jaleco and Asst. Div. Chief Joel Buag also joined the party of Speaker Romualdez during the market visit. 

In addition to the decisive action of President Marcos on rice tariff, Speaker Romualdez also cited the initiatives of the House leadership, including collaboration with rice traders, as a factor in the drop in the price of the staple food.

“Together with PRISM and other stakeholders, we have been actively working to stop rice hoarding and price manipulation. I would like to commend the rice traders who have responded to our call to make rice affordable and available for everyone,” the Speaker said.

It could be recalled that Speaker Romualdez led fact-finding missions to inspect rice warehouses in Bulacan, where instances of hoarding were discovered. These investigations, Speaker Romualdez noted, have been crucial in bringing unscrupulous traders to light and ensuring that rice stocks are released to the market.

“The Marcos administration is committed to implementing long-term solutions, such as increasing domestic rice production, improving import regulations, and penalizing those involved in illegal trade practices,” Speaker Romualdez said.

“President Ferdinand Marcos Jr. has made it clear that food security is a top priority for his administration. This is not just about lowering prices temporarily, but about ensuring a sustainable supply chain that benefits both consumers and farmers,” he added.

DA Asec. Guevarra said that additional farm input programs being implemented by the department is expected to boost rice productivity by next year, which could further bring down prices of the staple food. 

Meanwhile, Speaker Romualdez also called on local government units and private stakeholders to support ongoing initiatives aimed at bringing down the cost of essential goods, emphasizing that everyone has a role to play in stabilizing the market.

"As we continue to work towards this goal, we ask for the cooperation of all stakeholders. This is a whole-of-nation approach, and together, we will make sure that no Filipino family goes hungry," he continued.

“This price reduction is just the beginning. We will not stop until rice is affordable to every Filipino family. We remain committed to improving the livelihoods of our farmers while ensuring that consumers are not overburdened by high prices.” (END)