In the meantime, affected rice retails may receive financial assistance from the government, covering the difference between the cost of rice and the price ceiling
, President Ferdinand Marcos Jr. said that the government only stepped in because of market manipulation by “smugglers and hoarders.”Sa pag-aaral namin, ang dahilan lamang dito ay talagang nandiyan ang mga smuggler at saka ang mga hoarderthe ASEAN Summit in IndonesiaWithout the actions of smugglers and hoarders, Marcos claimed that there was no reason for the price of rice, which has risen by 16.7% since July, to increase as much as it has in recent months.
However, not everyone is convinced that price manipulation by malicious actors is the main reason for soaring prices. Raul Montemayor, Federation of Free Farmers Cooperatives national manager, countered the DA’s assumption that rice supply in the country remained robust.,” Montemayor said in a GMA News interview. “I think they are barking at the wrong tree if they point to hoarding and price manipulation.
One of the proposed measures is to provide financial assistance to retailers in wet markets and sari-sari stores, covering the difference between the cost of rice and the imposed price cap. The Department of Social Welfare and Development also has a livelihood assistance program for small-scale rice retailers.
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