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NewsTranscript
00:00 President Bongbong Marcos has set a price ceiling for rice as a contributor to the high price on the market.
00:06 But some businessmen are worried.
00:08 We have Bernadette Reyes and Ivan Mayrina.
00:12 In the past few weeks, it seems that the price of rice will not be stopped in the market.
00:19 50 pesos per kilo is the cheapest.
00:21 You're lucky if you can buy it.
00:24 Malacanang's solution, price ceiling or price limit that rice can be sold.
00:29 41 pesos for regular milled and 45 pesos for well-milled.
00:33 Based on the executive order or the President's EO.
00:36 I would encourage anyone who finds that someone or retailer is selling above the price ceiling,
00:46 report it so we can see and make sure that it will not exceed the price we set.
00:55 The President said that he will take care of the price of rice even if the supply is enough.
01:00 It's not a price risk. If it's not a price ceiling, we will just put the highest price.
01:05 To avoid the manipulation in the market.
01:10 Because the order is only for regular and well-milled,
01:12 the Trade and Agriculture Department will monitor if someone sells those as premium or mixed with premium
01:18 so that the price ceiling can be covered.
01:20 There is a risk of fine and imprisonment if the price is over the price limit.
01:25 The price ceiling will be implemented in the near future.
01:29 But until now, the price of regular and well-milled rice reached 55 pesos and 57 pesos.
01:38 In this place, in Commonwealth Market in Quezon City,
01:41 the rice retailer showed us how much they bought in rice.
01:45 It reached 49 to 51 pesos per kilo.
01:49 So how will they sell the rice if their price ceiling is higher?
01:55 What about our plastic? Our people? Our price? We will get it.
02:02 If they force us to sell at 41 pesos, we will not sell rice.
02:07 I will sell at 48 pesos.
02:09 If you travel, you will not go to Manila.
02:13 Maybe the rice sellers there will stop.
02:19 Maybe they cannot sell at the price control level.
02:25 But for the rice and rice growers in the Philippines,
02:29 the price can be lowered with the increased price ceiling.
02:32 What they are selling now is what was sold last time.
02:36 Regular milled rice should not be increased.
02:43 At least 34 to 36 pesos retail price, they can earn.
02:48 Even the well-milled rice of 37 pesos and 40 centavos,
02:53 traders and millers can earn.
02:57 For GMA Integrated News, I am Brinalda Atreyes.
03:00 And I am Ivan Meyrina.
03:02 We are tuned 24 hours.
03:07 (Continues in Tagalog)
03:21 Thank you.