Hanoi (VNA) – 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.
Marcos, who is also agriculture secretary, said the Philippines – among the world's largest rice importers – has adequate rice supply.
Despite this, the top official said that the work to improve the agricultural sector and assistance to farmers and the poor will still persist.
The President had imposed the price caps, effective early in September, as the rising cost of the national staple resulted in higher inflation. The price ceilings were meant to protect consumers./.
Marcos, who is also agriculture secretary, said the Philippines – among the world's largest rice importers – has adequate rice supply.
Despite this, the top official said that the work to improve the agricultural sector and assistance to farmers and the poor will still persist.
The President had imposed the price caps, effective early in September, as the rising cost of the national staple resulted in higher inflation. The price ceilings were meant to protect consumers./.
VNA
