P58/kg imported rice max SRP takes effect

MANILA, Philippines — The maximum suggested retail price (SRP) of P58 on imported rice takes effect today, a ranking official of the Department of Agriculture (DA) said as cost of the staple remains high despite the implementation of Executive Order 62, which lowered the tariff on imported grains to 15 percent from 35 percent.

In a radio interview yesterday, Agriculture Assistant Secretary and spokesman Arnel de Mesa said personnel of the DA and the Department of Trade and Industry (DTI) would inspect the different markets in Metro Manila to ensure compliance to the P58 maximum SRP.

“The maximum SRP on five percent broken (imported rice) and the changes on labeling will start on Jan. 20,” De Mesa said.

De Mesa said that based on the agreement of Agriculture Secretary Francisco Tiu Laurel Jr. with Metro Manila mayors, the local government units (LGUs) will also help in implementing the maximum SRP.

“No sign of maximum SRP (on the price tag) per se, but our personnel from the DA and DTI will jointly monitor (the compliance in the markets). The DA has no power to implement sanctions at the moment but the DTI, through their Fair Trade Enforcement Bureau and LGUs have the power to monitor and impose sanctions,” De Mesa added.

He added that under the Price Act, traders can impose a maximum of 10 percent profit on the items they sold.

“Under the maximum SRP, the P58 should be the highest price (for rice being sold in the markets),” he said.

According to De Mesa, certain rice varieties such as glutinous rice, black rice and red rice will not be covered by the maximum SRP.

“These are the rice varieties that are not covered by the maximum SRP but if the consumers monitor premium and special imported rice (exceed P58 per kilo) covered by MSRP, they can report to us using the hashtag #BantayPresyo,” De Mesa said.

Based on monitoring of the DA, the retail price of imported rice was still sold as high as P65 per kilo; imported premium rice, up to 60 per kilo; imported well-milled rice, 52 per kilo; imported regular milled rice, P48 per kilo.

De Mesa said that the government is confident that the retail price of rice would go down in the next few days.

On the other hand, De Mesa said that Tiu Laurel would talk to President Marcos before the formal implementation of the food security emergency which is expected to be signed on Wednesday.

“Secretary Laurel mentioned that he will talk to the President before the formal declaration but we are happy with his support,” he added.

He said that the DA is awaiting the signed resolution of the National Price Coordinating Council (NPCC) prior to the declaration of food security emergency.

“Let us wait for the parameters as the resolution (of the NPCC) has yet to be received by the DA which will be the basis for the conditions to be set by the government (on the implementation of food security emergency) but this should be fast,” De Mesa said.