MANILA – President Ferdinand R. Marcos Jr. on Wednesday personally inspected the prices and supply of essential commodities at a market and grocery outlet in San Juan City.
The monitoring activity, conducted with the Department of Agriculture and the Department of Trade and Industry, aims to ensure that food prices remain stable and that supply remains sufficient amid geopolitical tensions in the Middle East.
Marcos visited Agora Market together with Agriculture Secretary Francisco Tiu Laurel Jr. and Trade Secretary Ma. Cristina Roque, where they checked stalls selling agricultural produce and other basic commodities.
According to the President, the government is conducting inspections in several public markets to prevent sudden increases in food prices.
He also thanked vendors who have kept their prices steady and avoided exploiting the ongoing crisis in the Middle East.
Marcos said these inspections will continue to ensure that supplies remain stable and that consumers are protected from unreasonable price hikes.
Roque revealed that manufacturers producing staple consumer goods—including canned sardines, bread, bottled water, instant noodles, coffee, canned meat, and soap—have agreed to maintain their current prices for at least 30 days.
For his part, Tiu Laurel said the DA is studying the possibility of imposing a price cap on imported rice due to reports of rising retail prices.
Rice in several markets is currently being sold at around PHP60 to PHP65 per kilogram.
To address the increase, the DA is considering a proposed price ceiling of PHP50 per kilo on imported rice, which has been affected by higher freight costs linked to tensions in the Gulf region.
elamigo/xf
