Metro Manila, Philippines – President Bongbong Marcos has signed Executive Order 118 imposing a temporary mandated price ceiling on imported rice nationwide amid rising prices and concerns of market manipulation.
Under the order, the price of imported grain classified as 5 percent broken will be capped at ₱50 per kilogram for 30 days, unless earlier lifted upon the recommendation of the National Price Coordinating Council (NPCC).
The Palace said the measure aims to address “unjustified price increases,” prevent profiteering, and ensure the availability of affordable rice while maintaining market stability. The order also cited the ongoing Middle East conflict and the declared national energy emergency as factors contributing to price pressures on essential goods.
The NPCC has been tasked to review the implementation of the price ceiling every 15 days and recommend whether the policy should be continued, adjusted, or lifted depending on prevailing market conditions.
The president directed a number of agencies to enforce the order, namely, the Department of Trade and Industry, Department of Agriculture, Bureau of Customs, Philippine Competition Commission, and the Philippine National Police.
He also instructed authorities to crack down on hoarding, smuggling, cartelization, and other anti-competitive practices involving rice.
