Question & AnswerQ&A (EXECUTIVE ORDER NO. 378)
Executive Order No. 378 fixes the ceiling price of palay per cavan in the Philippines.
The ceiling price for palay per cavan (44 kilos, Macan, ordinary) is fixed at P11 F.O.B. Manila.
Outside Manila, the ceiling price is determined by deducting from the Manila price the actual cost of transportation to Manila.
The General Manager of the Price Stabilization Corporation determines the actual cost of transportation.
The General Manager of the Price Stabilization Corporation fixes standard estimates of weights per sack based on the period from the date of harvest to allow for shrinkage.
Section 3 of Republic Act No. 509 authorizes the President to fix ceiling prices of commodities.
Fixing a ceiling price aims to control commodity prices, ensuring affordability and stabilizing the market.
The Rice Emergency Board recommended the fixing of the ceiling price for palay.