The price ceiling imposed on rice will take effect on Tuesday, September 5, the Presidential Communications Office (PCO) said on Sunday.

"Epektibo simula ika-5 ng Setyembre ang price ceiling na PHP 41 sa regular milled at PHP 45 naman sa well-milled na bigas," PCO said in a brief statement.

It reminded the imposed penalties to those who will be caught doing illegal acts such as price manipulation.

Under Sections 15 and 16 of Republic Act No. 7581 or Price Act, violators may face 5 to 15 years of imprisonment and they will be mandated to pay a fine ranging from ₱5,000 to ₱2 million.

Last Friday, September 1, President Ferdinand 'Bongbong' Marcos Jr. issued Executive Order (EO) No. 39 setting a price cap on rice in local markets throughout the country..

The said price cap was a joint recommendation by the Department of Agriculture (DA) and the Department of Trade and Industry (DTI) as the retail prices of rice in the market have surged despite the stable and sufficient rice supply.

Based on EO No. 39, the mandated price ceiling for regular milled rice is ₱41 per kilo, while the mandated price cap for well-milled rice is ₱45 per kilo.