The Department of Agriculture (DA) is set to impose a suggested retail price (SRP) of P53 per kilogram for locally produced rice.
In a statement, Agriculture Secretary Francisco Tiu Laurel Jr. said the agency had reached an agreement with rice industry stakeholders, balancing farmers’ profits with consumers’ budgets.
“This is not a price ceiling. It is simply a guide for consumers on fair prices for local rice,” Tiu Laurel said.
“I consulted rice millers and industry groups, and P53 per kilo is acceptable,” he added, noting that market players may still sell at lower prices while allowing other sectors in the value chain to earn reasonable margins.
The DA said it will release the full details of the SRP soon.
For imported rice, Tiu Laurel said the full enforcement of the P50 per kilogram price cap will begin next week to give retailers and consumers time to adjust. — Photo from the Department of Agriculture
