WHEREAS, Section 2 of Republic Act (RA) No. 7581, or the "Price Act," declares the policy of the State to (i) ensure the availability of basic necessities and prime commodities at reasonable prices at all times without denying legitimate business a fair return on investment; (ii) provide effective and sufficient protection to consumers against hoarding, profiteering and cartels with respect to the supply, distribution, marketing and pricing of said goods, especially during periods of calamity, emergency, widespread illegal price manipulation and other similar situations; (iii) develop, adopt and promulgate measures to stabilize prices at reasonable levels; and (iv) establish a mechanism that will readily protect consumers from inadequate supply and unreasonable price increase on occasions of calamities, emergencies and like occurrences;

WHEREAS, the National Food Authority (NFA), created under Presidential Decree (PD) No. 4 (s. 1972), or the "National Grains Authority Act," as amended, and attached to the Office of the President pursuant to PD No. 1770, or the "National Food Authority Act," is mandated to (i) maintain and manage a national buffer stock, the quantity and locations of which shall be determined by the NFA; and (ii) to register, license and supervise persons, natural or juridical, who shall engage or are engaging in the wholesale, retail, processing, manufacturing, storage, transporting, packaging, importation, exportation of food products/commodities;

WHEREAS, certain administrative constraints and fees unduly add to the costs of importation of basic agricultural commodities, and contribute to price increases; and

WHEREAS, there is a need to promulgate measures to stabilize the prices of basic agricultural commodities at reasonable levels, to maintain their sufficient supply in the domestic market and to provide effective and sufficient protection to consumers against hoarding, profiteering and cartels with respect to the supply, distribution, marketing and pricing of said goods;

NOW, THEREFORE, I, SALVADOR C. MEDIALDEA, Executive Secretary, by virtue of the powers vested in me by law, hereby direct the NFA to immediately release to markets approximately 230,000 metric tons of rice currently in stock in its warehouses across the country. The NFA shall likewise immediately release the 100,000 metric tons of rice previously contracted to be delivered before the end of September.

Subject to applicable laws and issuances, the NFA is further directed to adopt measures to ensure access by consumers to regular milled and well milled rice.

The NFA shall submit to the Office of the Executive Secretary, within one(1) month from effectivity of this Order, a progress report on the status of implementation of this Order.

This Memorandum Order shall take effect immediately.

DONE in the City of Manila, this 21st day of September, in the year of Our Lord, Two Thousand and Eighteen.

 

By authority of the President:       (SGD.) SALVADOR C. MEDIALDEA   Executive Secretary