Makati City, Philippines—The Department of Trade and Industry (DTI), in cooperation with the Department of Agriculture (DA), announces the launch of a nationwide rice price monitoring effort. This proactive measure aims to assess and address the potential impact of tariff reduction on imported rice, as outlined in the Executive Order (EO) 62, across the entire supply chain, from importers to retailers.

“Recognizing rice as a staple in the Filipino diet, the DTI is steadfast in the rigorous monitoring and analysis of rice price fluctuations. These data-driven reports will inform policymakers’ decisions to ensure stable rice supply, distribution, and pricing,” said DTI Secretary Fred Pascual, who, by virtue of their position, also chairs the National Price Coordinating Council as provided in Republic Act (RA) No. 7581, or the Price Act, as amended by RA No. 10623.

The extensive price monitoring initiative covers a wide range of retail markets, including supermarkets, hypermarkets, and grocery stores under the DTI’s jurisdiction, as well as wet markets under the DA’s purview. This initiative builds upon similar efforts that began last year following EO 42—which directed the DTI to continue assisting the DA in monitoring prices after the lifting of EO 39’s temporary price ceilings.

Composed of secretaries from government agencies and representatives from consumer, agricultural, trading, and manufacturing sectors, the NPCC plays a crucial role in coordinating national efforts to stabilize and control the prices of essential goods and prime commodities.

The trade chief commended members of Congress for their unwavering support in maintaining price stability and food security for all Filipinos. He specifically thanked House Speaker Martin Romualdez for recognizing the DTI’s vital role in strictly monitoring prices and evaluating the impact of reduced rice tariffs.

Pascual also acknowledged the significant contributions of Iloilo Rep. Ferjenel Biron, Chairman of the House Committee on Trade and Industry; Quezon 1st District Rep. Mark Enverga, Chairman of the House Committee on Agriculture and Food; and Deputy Majority Leader for Communications and ACT-CIS Rep. Erwin Tulfo—for their dedication to protecting consumer interests and combating hoarding, profiteering, and smuggling.

“We at the DTI deeply appreciate the tireless work of these legislators in holding price manipulators and violators accountable. Their actions align perfectly with our mission to empower and care for consumers while fostering fair competition for legitimate businesses,” Pascual said. END

 

For further information on the release, please get in touch with:

DTI-CPG-Fair Trade Enforcement Bureau (FTEB)
1-2F UPRC Building, 315 Sen. Gil J. Puyat Ave., Makati City
Telephones: (+632) 77215.1165 / 7975.7564
Contact Person: Ms. Claire C. Onza
Email Address: FTEB@dti.gov.ph / ClaireOnza@dti.gov.ph
Website:  www.dti.gov.ph