Philippines President Marcos sets ceiling on rice prices

Philippines President Ferdinand Marcos Jr has set price ceilings for rice, his office said on Friday, to keep the cost of the national staple in check.

The price ceiling for regular milled rice was set at 41 Philippine pesos ($0.72) per kg, while the price for well-milled rice was set at 45 pesos ($0.79) per kg, with the mandated ceilings to remain in effect until lifted by the president. ($1 = 56.6400 Philippine pesos)