Marcos raises the price cap on rice.
Philippines' MANILA After about a month since it was implemented, President Ferdinand Marcos Jr. announced the immediate repeal of the rice price cap. Marcos stated that "as of today," the government is "lifting the price caps on rice, both for the regular-milled rice and the well-milled rice." This comes after "positive" indicators purportedly demonstrating the efficacy of the price cap, which was established on September 5 to stop skyrocketing rice prices, were provided to Marcos by the Departments of Agriculture and Trade and Industry on Tuesday. According to Executive Order No. 39, the price limit for well-milled rice was P45…