President Ferdinand Marcos Jr. lifted the price cap on regular milled and well milled rice on Wednesday.

The cap, meant to rein in surging rice prices last month, set regular rice at P41 a kilo and well-milled at P45 a kilo.

“As of today, we are lifting the price cap for the regular milled rice and well milled rice,” said Marcos in an ambush interview in Taguig.

The Department of Agriculture said Tuesday it will recommend to Marcos to lift the cap as rice harvests have been coming in starting September. DMS