By Tracy Cabrera
DILIMAN, Quezon City — Following President Ferdinand “Bongbong” Marcos Jr. (PBBM)’s approval of a ₱50 per kilogram price cap for 5% broken imported rice, the Department of Agriculture (DA) said it is considering a ₱53 per kilogram suggested retail price (SRP) for local rice to help ensure fair market pricing.
In a statement, Agriculture Secretary Francisco Tiu Laurel Jr. said the order for the SRP on local rice will soon be issued after consultations with stakeholders.
According to the secretary, he has already met with rice millers and industry groups, who generally view the ₱53 per kilo SRP as acceptable.
He said the SRP aims to protect consumers while balancing farmers’ income and consumer affordability. “This is not a price ceiling. It’s just a guide for consumers on fair local rice prices,” he said.
However, the agriculture chief added that market players may still sell below the SRP, allowing different actors in the value chain to maintain reasonable margins.
He also stressed that full enforcement of the ₱50 price cap on imported rice will begin next week, giving retailers and consumers time to adjust. The measure will remain in effect for 30 days.
Currently, premium imported rice in Metro Manila ranges from ₱48 to ₱65 per kilo, while well-milled imported rice is priced at ₱48 to ₱52 per kilo, and regular-milled imported rice at ₱42 to ₱43 per kilo.
Local premium rice, meanwhile, is priced at ₱50 to ₱60 per kilo, while both well-milled and regular-milled local rice are at around ₱50 per kilo.
ia/xf
