Philippines' DOA investigates rice price gap in wet markets, considering actions under the 1993 Price Act.
The Philippines' Department of Agriculture is investigating high retail rice prices in wet markets despite lower wholesale costs. Secretary Francisco Tiu Laurel noted that while wholesale prices dropped to P38 per kilogram, retail prices remain between P42 and P55. The DA plans to consult market leaders and conduct inspections, considering actions under the 1993 Price Act, which could include price ceilings and penalties for price manipulation.
October 29, 2024
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