In Central Visayas: Rice prices in some markets exceed P58

CEBU, Philippines — Despite the Department of Agriculture’s (DA) implementation of the maximum suggested retail price (MSRP) of P58 for imported rice, some monitored markets in Central Visayas still have prices exceeding the limit per kilogram.

In a Price Watch report released by DA-7 for the period January 20 to 23, 2025, three markets in the region were found to have exceeded the MSRP by at least P1 to P5 on special and premium imported rice under the legend of highest price.

These markets include Carbon Market in Cebu City, Tabunok Market in Talisay City, and Larena Market in Siquijor.

In Carbon Market, special and premium rice are sold at P59 per kilo, while Tabunok Market sells special rice at P60 per kilo. In Larena Market, special and premium rice are priced at P62.50 and P60. respectively.

The implementation of the MSRP of P58 on imported rice took effect last January 20, 2025,

The DA has earlier said that retailers caught exceeding the MSRP must justify their prices to authorities. If rice prices remain excessively high, the DA and the Department of Trade and Industry will recommend to President Ferdinand Marcos Jr. the imposition of the price ceiling, with strict penalties for violators.

DA has also asked the public to help them monitor markets by reporting to authorities any cases of MSRP violators.

Meanwhile, Lapu-Lapu Market, Mandaue Market, Dao Market in Bohol, Lazi, and Siquijor Market all fall within the DA’s MSRP, with some prices even lower depending on the type of rice.

For well-milled and regular-milled rice, the highest prices range from P46 to P58.25 per kilogram.

However, the prevailing prices in all the mentioned markets remain within the MSRP.

The prevailing price refers to what most sellers are offering the item, based on monitoring and reports from authorities or consumer groups.

Carbon Market’s special rice is sold at P57.75; Premium rice is at P54; Well-milled rice at P49; and regular-milled rice at P48.

Moreover, Tabunok Market showed more variation, with some categories falling below the MSRP while others remained stable.

Tabunok’s prevailing price on special rice is sold at P57; Premium at P54.50; Well-milled rice with P48 reported; and regular-milled rice at P46.

In Lapu-Lapu Market, special rice (P56); premium rice (P55); well-milled rice (P50.50); and regular-milled rice (P45.50).

Mandaue Market on the other hand have prevailing prices of P55.40 for special rice; P54 for premium rice; P48 for well-milled rice; and P46.50 for regular-milled rice per kilogram.

Even though Larena Market exceeds the MSRP in terms of the highest price, its prevailing price still aligns with the MSRP. Their special and premium rice are priced at P58, well-milled rice at P55.83, and regular-milled rice at P45.50 per kilogram.

Across the eight markets mentioned, the lowest prices for imported rice range from P46 to P58, depending on the rice variety.

In a phone interview yesterday, Erwin Goc-ong, general manager of the Cebu Market Vendors Development Cooperative (CEMVEDCO) shared that rice prices have actually significantly decreased recently.

He cited an example of imported rice, which used to be sold by wholesalers for P2,500 per sack but is now priced at P2,350.

“Nibarato ang bugas, naay P42, P48, P52,” said Goc-ong.

However, he pointed out that the best-quality imported rice remains relatively expensive, still reaching P59 to P60 per sack.

“Ang bugas kung e-compare last year ug karon, year-on-year mas mahal ang last year kaysa karon,” Goc-ong added.

When asked about his opinion on DA’s implementation of the P58.00 per kilo (MSRP), Goc-ong expressed his satisfaction, stating that he is happy with it as a consumer.

“Uyon ra kay kaming mga rice retailers kay mga consumer rapud baya mi. Total ug pilay kumpra namo, igo raman pud mi motubo og gamay pang ginansiya” the general manager shared.

However, Goc-ong noted that wholesalers and farmers might have a different perspective, as they only make small profits too.

Last Monday, January 20, 2025, the agriculture agency set the MSRP for imported rice at P58 with the aim to stabilize the prices on rice in the market making it more affordable for consumers. – ATO (CEBU NEWS)