The Department of Agriculture has stepped up inspections at markets and stores nationwide after President Marcos imposed a 30-day price ceiling on imported rice. Violators risk jail terms, fines up to one million pesos and possible business closures under the Price Act.
Agriculture Secretary Francisco Tiu Laurel Jr. said the mandated ceiling gives authorities stronger powers than earlier suggested retail prices, which relied on voluntary compliance. “The mandated price ceiling now allows the Department of Agriculture to impose punitive sanctions and fines on violators,” he stated.
Under the Price Act, offenders may receive one to ten years in prison, fines from five thousand to one million pesos, or both. Administrative measures include temporary or permanent closure of stores, seizure of stocks and revocation of permits.
The ceiling applies to five-percent broken imported rice and may be adjusted or lifted after review. Rice is classified as a basic necessity, allowing the department to act during periods of unreasonable price increases.