Ilang rice retailer, napilitang magbenta nang palugi ngayong unang araw ng pagpapatupad ng price cap sa bigas

last year

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Transcript

00:00 It seems like it's hard to wait for many rice retailers to fulfill their price ceiling for their rice.

00:07 They are afraid that because they are selling rice at a low price,

00:11 they will only be able to keep up with the price cap.

00:14 Here is my report.

00:16 According to the MegaQ Mart's headquarters in Quezon City,

00:22 no rice retailer will open their price cap on the first day of their rice selling.

00:28 That's why they were forced to sell their special rice bags at a low price.

00:32 The rice was closed.

00:34 The management sacrificed themselves to sell the rice here so that people can buy.

00:41 It took almost 4 hours to sell all of it.

00:44 In Agora Market in San Juan, Madilaw,

00:46 they were forced to sell the 41 pesos of regular milled rice.

00:50 But they still insisted on selling it.

00:52 To be able to survive for a few days in the budget.

00:55 Jack is a businessman and he doesn't want to sell rice anymore.

00:58 But to keep up with the price ceiling, he decided to sell the rice.

01:02 According to the CTO and DTI, we need to display 41 and 45.

01:07 If we don't display it, we can be closed.

01:10 In Palawan, DTI went around to warn retailers about the rising price ceiling.

01:15 Some are still selling well-milled rice for P55 to P60.

01:20 The DOJ is warning that those who won't follow the price ceiling can be sued.

01:25 The most serious one is economic sabotage, which is non-bailable.

01:28 Profiteering and other crimes that are against commercial interests of the people.

01:34 In Leyte, their governor insisted that they limit the consumption of rice.

01:39 Instead, they eat sweet potatoes.

01:41 Small retailers that will be affected by the price cap

01:44 can receive P15,000 from the government.

01:48 They will get that from the 5.5 billion pesos of the sustainable livelihood program of DSWD.

01:53 We are just waiting for the list from DTI and the Department of Agriculture.

01:59 Rice is one of the biggest contributors to the price of rice and to the inflation of 5.3%.

02:06 According to the Philippine Statistics Authority,

02:09 rice was priced at 8.7% last month,

02:12 the fastest price since November 2018.

02:16 Now that there is a price cap on rice, will the inflation slow down?

02:19 It will have an adjustment, but of course, we will be computing it year on year.

02:24 The price of tomatoes in Batangas City Old Market also increased.

02:28 It increased to P200 per kilo.

02:31 In times like this, we always notice that the price of tomatoes is increasing because of the weather.

02:40 The transport sector also contributed to the speed of inflation due to the increasing price of oil.

02:47 [BLANK_AUDIO]

Ilang rice retailer, napilitang magbenta nang palugi ngayong unang araw ng pagpapatupad ng price cap sa bigas | SONA

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