Manila, Oct. 25 -- President Ferdinand R. Marcos Jr. on Saturday issued Executive Order (EO) 100 establishing a floor price for palay (unhusked rice) and activating trigger mechanisms for its implementation to protect farmers from declining farmgate prices.

Under the EO, the Department of Agriculture (DA) is mandated to determine, set, and adjust the palay floor price for government procurement based on the cost of production, prevailing market prices, reasonable margins for farmers, and the welfare of both producers and consumers.

The DA may also consider other factors, including "emergencies or calamities affecting the rice supply chain and palay production; influx of import arrivals that could dampen farmgate price of palay; sharp de...