ILOILO CITY — The Department of Trade and Industry Western Visayas (DTI-6) said it has started collecting the baseline prices of rice in the region in compliance with the lowered rice tariff requirement of Executive Order (EO) 62.
"Before we implement the EO, we are still getting the baseline data on current rice prices," said Grace Benedicto, Consumer Protection Division chief of the DTI-6, adding that they started their monitoring procedures on July 8.
Benedicto said they have so far monitored 29 establishments selling rice that are either regular milled, well-milled or special premium across the region.
"The DTI and Department of Agriculture (DA) will be in the piggy bank to monitor the prices of rice in supermarkets, hypermarkets and grocery stores," she added.
The price monitoring of DTI will cover supermarkets, hypermarkets and grocery stores, while wet markets will be under the DA's purview.
The EO issued by President Ferdinand Marcos Jr. on June 29 ordered the modification of nomenclature and tariff rates on various imported agricultural products, including rice, for the period 2024-2028.
"An updated comprehensive tariff schedule aims to augment supply, manage prices and temper inflationary pressure of various commodities," read a dispositive part of the EO.
The EO issued by President Ferdinand Marcos Jr. on June 29 ordered the modification of nomenclature and tariff rates on various imported agricultural products, including rice, for the period 2024-2028.
"An updated comprehensive tariff schedule aims to augment supply, manage prices and temper inflationary pressure of various commodities," read a dispositive part of the EO.
"We are not limiting our monitoring per kilogram. We are also monitoring those that are 5, 10 or 25 kilograms," she added.
"Hopefully, it will reduce the prices, especially for our imported rice. We will check that after the EO takes effect," stressed Benedicto.
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