Rice price cap seen to last until end-Oct.

Prices of rice are falling in markets across Metro Manila, but the price cap imposed by the government may remain until end-October, a Department of Agriculture official said Friday.

The falling prices are not enough to remove the P41 to P45 price cap on regular and well-milled rice, DA Senior Undersecretary Domingo Panganiban said in a TV Patrol interview.

“Prices have fallen by about P5 per kilo, but that’s not enough.

But according to Socioeconomic Planning Secretary Arsenio Balisacan, the price ceiling may be lifted soon.

“I think even the President is aware of the dangers of a long and unnecessary price cap. It is expected to be short-term and temporary,” Balisacan told ANC.