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Cebu News

SRP for imported rice starts today

Caecent No-ot Magsumbol - The Freeman

CEBU, Philippines —  The implementation of suggested retail price (SRP) for imported rice begins today starting in Metro Manila and will be extended to key cities in the country, the Department of Agriculture announced.

Agriculture Secretary Francisco P. Tiu Laurel Jr. announced recently that the reduction of broken rice variety sold under the Department of Agriculture’s Rice-for-All program (RFA25) will be reduced from ?40 to ?38 per kilogram.

He said the SRP framework includes a nominal profit margin of approximately ?10 per kilogram above the landed cost of imported rice, excluding specialty rice varieties such as malagkit, Japanese, and black rice.

The current rice tariff, reduced from 35% to 15% under President Ferdinand Marcos Jr.’s Executive Order 62 last July to mitigate rice costs, is also under evaluation. This tariff policy mandates a review every four months, with the next assessment scheduled for March.

This measure will be reviewed monthly to reflect fluctuations in global market prices and tariff rates, the DA explained. The DA also plans to extend the program to other key cities nationwide.

Should imported rice prices exceed the SRP frequently, DA will implement a stricter SRP framework accompanied by fines and penalties for violations.

In addition to RFA25, there’s also the RFA5, which contains 5% broken grains priced at ?45 per kilogram, and RFA100, a 100% broken variety, popularly known as “Sulit Rice”, available at ?36 per kilogram.

RFA 25 is complemented by ?29 rice to ensure even wider access to affordable rice varieties. These offerings are being expanded across public markets and KADIWA centers.

Meanwhile, the DA has also assured the public of much lower food prices in the coming months as a result of multiple factors affecting food production and supply.

Agriculture Assistant Secretary Arnel de Mesa said over a news forum in Quezon City over the weekend that they are expecting the prices of rice, pork, and fish to drop in the following months because of lower pork demand, drop in rice prices in the world market, and reopening of the fishing season in the country.

He said there was a reported increase in pork prices because of the continuing effect of the African Swine Fever and the huge demand for pork in the last quarter of 2024. In the case of fish, prices increased because of the closed fishing season.

The government is planning to declare a food security emergency to stabilize rice prices in the country by freeing up NFA warehouses and opening up more rice retail stations. (CEBU NEWS)

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