‘P7 drop in price of imported rice not happening’

MANILA, Philippines — Where is the drop of P7 per kilo in the price of imported rice?

Samahang Industriya ng Agrikultura (SINAG) chairman Rosendo So posed this question to the government exactly a month after the implementation of Executive Order 62, which reduced the tariffs of imported rice and other agricultural products from 35 percent to 15 percent.

“They said that the (retail price of) well milled rice will go down to P45 (per kilo) and P40 for regular milled rice,” So said.

“Their promise of a P7 drop in the retail price did not happen,” he added.

The reduced tariff on imported rice took effect on July 7.

So also said that many farmers were discouraged to plant because of the flooding of imported rice in the market.

Agriculture Assistant Secretary and spokesman Arnel de Mesa said it is still too early to say if EO 62 really failed to bring down the price of rice.

“Of course we need to allow some time for this as it was only July (when it took effect). It is only early August,” he said.

De Mesa added that only 150,000 metric tons of imported rice arrived since EO 62 took effect, compared to the first six months’ average of 400,000 metric tons arrival of imported rice.

He admitted that the retail price of local rice remains lower compared to the imported grains.

Based on monitoring of the Department of Agriculture, the retail price of imported regular rice ranged between P46 and P48 per kilo; imported well-milled rice, between P51 and P53 per kilo; imported premium rice, between P53 and P60 and imported special rice, between P55 and P65 per kilo.

Meanwhile, local regular milled rice was priced between P45 and P50 per kilo; local well-milled rice, between P47 and P55 per kilo; local premium rice, between P50 and P58 per kilo and local special rice, between P57 and P61 per kilo.