00:00 When you go to the market, don't be surprised if you see the price of the rice you bought is rising.
00:06 This means that the price of the rice you buy is now free to rise.
00:19 Because of the price ceiling, you can only sell a kilo of regular milled rice for P41.
00:27 While P45 is the price of well-milled rice.
00:31 Now, supply and demand are the ones who will decide the price.
00:35 But it doesn't mean that it's just like that.
00:38 Because we still need to fix the agricultural sector. We still need to help.
00:45 This includes providing assistance to farmers,
00:48 in accordance with the funds collected under the Rice Tarification Law.
00:54 The Food Stamp Program is also ongoing for the 1 million poorest families.
00:59 They receive food assistance.
01:02 And they use that food assistance to buy rice.
01:06 Because the cheap rice is readily available in our markets.
01:09 The government's decision is supported by the agricultural industry.
01:15 The group said that hoarding and smuggling is the reason for the price to rise.
01:21 Retailers and buyers have a different reaction.
01:25 It's rising.
01:28 Everything is rising.
01:34 It's okay, but it's harder.
01:36 It's better to have P45 and P41. We can't do anything.
01:39 But I have no choice.
01:44 The government continues to fight against smugglers.
01:49 And against smugglers and hoarders of rice.
01:52 In fact, the President himself named some of the government's victims.
01:58 We are now a new Philippines.
02:01 And we will fight against those who do not fight the law.
02:08 Meanwhile, the President admitted that the problem with rice is one of the reasons for his approval ratings to fall.
02:16 From 80 to 65 percent according to the survey of Pulse Asia.
02:21 It's not surprising.
02:23 People are having a hard time.
02:25 The problem is rice.
02:28 It's a different story when it comes to rice.
02:30 They will continue to find ways to solve the price of rice.
02:36 Not to increase his ratings, but for the welfare of the people.
02:42 Rex Remicchio, CNN Philippines
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