Manila: President Ferdinand R. Marcos Jr. has mandated a temporary price ceiling on imported rice to address what the government describes as unjustified price increases and market abuse due to supply disruptions caused by the Middle East crisis.

According to Philippines News Agency, Executive Order (EO) No. 118 sets a maximum retail price of PHP50 per kilogram for imported rice with 5-percent broken content for 30 days. This action follows the recommendation of the National Price Coordinating Council (NPCC) to ensure affordable rice availability and maintain market stability. The EO invokes Republic Act No. 7581, which allows the President to impose price ceilings on basic necessities in cases of unreasonable price hikes and market manipulation.

The order also references the Anti-Agricultural Economic Sabotage Act of 2024, targeting hoarding, profiteering, and other manipulative practices in agriculture. Additionally, it cites Executive Order No. 110, declaring a national energy emergency due to the Middle East conflict, which has disrupted supply chains and commodity prices. The EO emphasizes the need for urgent measures to protect consumers and ensure rice affordability and accessibility.

The Department of Trade and Industry (DTI) and the Department of Agriculture (DA) are tasked with enforcing the price ceiling and monitoring market price movements. The Bureau of Customs is instructed to intensify actions against smuggling and illegal rice importation, including the seizure of smuggled rice. The Philippine Competition Commission, in coordination with the DTI and DA, will address cartelization and other anti-competitive behaviors. The Philippine National Police and other law enforcement agencies will support the order's implementation. The EO takes effect immediately upon publication in the Official Gazette or a newspaper of general circulation.