CEBU CITY – Retailers here are feeling the pinch of the rice price cap.
UNDERSECRETARY Terence Calatrava of the Office of the Presidential Assistant for the Visayas inspects prices of rice at Carbon Market in Cebu City on Thursday, Sept. 14.
He said they have incurred losses when President Ferdinand Marcos Jr. issued Executive Order No. 39 mandating the price ceiling for regular and well-milled rice at P41 and P45, respectively.“We hope that the price of rice will stop increasing because it really affects the poor. Even if we raise the price of rice for just P1, they will really complain. They are looking for that P20 per kilo that was promised,” said Goc-ong, who has been a rice retailer since 1998.
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