DTI ramps up rice price monitoring efforts

The Department of Trade and Industry (DTI) has intensified its nationwide monitoring of rice prices to ensure that regular and well-milled rice remains affordable for Filipino families, priced between P40 and P45 per kilogram.

In a statement released on Thursday, DTI Secretary Cristina Roque emphasized the significance of rice as a staple food for Filipino households.

“We will not tolerate any attempts to exploit the public by manipulating its price,” Roque said.

She reaffirmed the agency’s dedication to protecting consumers, cautioning against hoarding, price manipulation, and violations of fair trade laws.

“Our monitoring teams are actively inspecting markets nationwide to ensure compliance with fair trade regulations. We will not hesitate to impose fines, closures, and other penalties on violators,” Roque stressed.

This intensified price monitoring is being conducted in collaboration with the Department of Agriculture (DA) and aims to ensure adherence to Republic Act (RA) 7581, the Price Act, as amended by RA 10623. The law seeks to prevent hoarding and price manipulation while protecting consumers from unjust price hikes durint g supply disruptions or emergencies.

“Through a whole-of-government approach, we are committed to creating a secure and prosperous ‘Bagong Pilipinas,’ where no one is left behind,” Roque added.