Wednesday Jun, 19 2024 10:53:50 PM

BARMM intensifies rice price cap monitoring

AGRICULTURE • 11:45 AM Wed Sep 20, 2023
2
By: 
BIO BARMM
MAFAR, MTIT teams monitor rice prices in Cotabato City. (BIO)

COTABATO CITY — The Bangsamoro Government started mobilizing price monitors in the region on Sept. 11 to intensify its effort to prevent price manipulators.
 
The Ministry of Agriculture, Fisheries and Agrarian Reform (MAFAR) along with the Bangsamoro Price Coordinating Council (BPCC) of the Ministry of Trade, Investments, and Tourism (MTIT) conducted the price monitoring of the city’s major markets.
 
This is in line with Executive Order (EO) 39, s. 2023, which imposes mandated price ceilings on rice, issued by the Office of the President on Aug. 31, 2023.
 
In the said EO, the Department of Trade and Industry and Department of Agriculture “shall ensure the strict implementation of the mandated price ceilings on rice in the market, including monitoring and investigation of abnormal price movements thereof, and provision of assistance to affected retailers.”
 
The mandated rice price ceiling for the regular milled rice variety is P41 per kilogram, while the well-milled rice is P45 per kilogram. The price caps do not cover special and premium rice.
 
MAFAR Director-General for Agriculture Services Dr. Daud Lagasi emphasized the essence of sustaining the partnership with the region’s BPCC, with the other BARMM ministries and agencies in ensuring the right price of rice across the region.
 
“We, in MAFAR, have directed the provincial and municipal counterparts to intensify the conduct of price monitoring of agri-fishery commodities especially on rice, especially on the implementation of Executive Order 39 signed by PBBM,” Lagasi said.
 
On Aug. 18, Lagasi confirmed that there is enough supply of rice in the region despite concerns about increasing prices in the market.
 
The price monitoring of goods and services is part of the Chief Minister’s 12-Point Priority Agenda specifically on Social Protection Services for Bangsamoro to mitigate issues of economic vulnerability.

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