Rice retailers appeal rice price cap implementation

CNN Philippines

A number of rice retailers appealing to the government not to make what they consider 'rash' decisions. They want to be given a few weeks to sell off their existing stocks before the price cap implementation tomorrow.  Currie Cator reports.  Visit our website for more #NewsYouCanTrust: https://www.cnnphilippines.com/  Follow our social media pages:  • Facebook: https://www.facebook.com/CNNPhilippines • Instagram: https://www.instagram.com/cnnphilippines/ • Twitter: https://twitter.com/cnnphilippines

Transcript

00:00 If that's the case, let them rest.

00:02 They won't be selling for now.

00:04 It's just an imaginary price.

00:07 For wet market supplier and vendor Shane,

00:09 it's quite impossible to abide by the price cap for rice.

00:13 Starting Tuesday, a price ceiling of P41

00:16 will be enforced nationwide for regular milled rice.

00:19 P45 for well-milled.

00:21 Shane says she allocates at least P2,400

00:25 for every 50 kilos of rice as capital.

00:28 That's equivalent to P48 per kilo

00:31 without their mark-up cost yet.

00:33 We, the businessmen, are panicking.

00:35 We need to sell P41 and P45.

00:39 But the thing is, where will we get that?

00:42 For P20 that we promised,

00:46 we're already struggling to get to the market.

00:48 Retailers Rodel and Belen are only making P1

00:51 for every kilo of rice.

00:53 They appeal to the government to give them at least one month

00:56 to sell all their stocks bought at higher prices.

00:59 But for the rice mills where we get our rice,

01:02 the price should be low.

01:04 We shouldn't be forced to lower the price.

01:06 At the Pasig Mega Market,

01:08 regular milled rice is still sold for P48 in some stalls,

01:12 but merchants say they only want to help ease the burden on consumers.

01:16 The Trade Department says it recognizes the impact of the price ceiling,

01:20 especially on small rice retailers.

01:23 Adding help is underway.

01:25 The Interior Department and the MMDA met with market administrators in the region.

01:29 Officials, however, have yet to come up with guidelines for the price cap.

01:34 We'll go through the process of consultation

01:37 and we'll wait for the guidelines.

01:40 Of course, there are so many stakeholders involved.

01:43 Even consumers are supporting retailers' calls

01:46 to at least make the price cap fair.

01:49 Marisa says she can only afford 5 kilos of rice,

01:52 while Joe Marbais 15 kilos down from 25 kilos for two weeks.

01:57 It's going down by 20.

01:59 It was going up by 50.

02:01 It's a good thing I only have one child.

02:03 What if I have a lot?

02:05 I won't have anything to eat.

02:06 It's going down by 48, 49.

02:09 It used to be high.

02:10 If I could, I'd lower it.

02:13 Kari Kator, CNN Philippines.

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