LOCALLY produced rice may soon carry a suggested retail price of P53 per kilo as the government moves to stabilize food prices while safeguarding farmer earnings amid rising inflation pressures.
Photograph courtesy of DA
The government is moving to put locally produced rice under a P53-per-kilo suggested retail price as authorities attempt to contain food inflation while protecting farmer incomes amid rising global economic pressures.
Agriculture Secretary Francisco P. Tiu Laurel Jr. said the proposed SRP was reached after consultations with rice millers and industry stakeholders, positioning local rice slightly above the P50-per-kilo temporary price cap imposed on imported 5-percent broken rice under President Ferdinand Marcos Jr.’s Executive Order 118.
Not a price ceiling, but a guide
“This is not a price ceiling. It’s just a guide for consumers on fair local rice prices,” Tiu Laurel said, emphasizing that retailers may still sell below the suggested level depending on market conditions.
The Agriculture chief said the planned benchmark seeks to strike a balance between affordable food prices and sustainable earnings for farmers and traders as the country grapples with accelerating inflation triggered by rising oil prices and geopolitical tensions in the Middle East.
“I’ve consulted rice millers and industry groups, and P53 per kilo is acceptable,” he added.
Three decades after the Marcopper mining disaster devastated Marinduque’s waterways, the province is again pressing the…
Housing is probably the biggest issue affecting people the world over.
Malacañang on Monday called for a more thorough investigation into the questioned flood control projects in Taguig…
The defense on Monday backed the move by senator-judges to exclude a prosecution witness who testified on the firearms…
Closely-watched commodity
Rice remains among the country’s most closely watched commodities because of its direct impact on inflation, household spending, and monetary policy decisions.
Analysts noted that any sustained increase in rice prices could further pressure consumer budgets, particularly among low-income households where rice accounts for a large share of daily expenses.
The Department of Agriculture (DA) is expected to issue a memorandum formalizing the SRP guidelines in the coming days.
Enforcement to begin next week
Meanwhile, Tiu Laurel said stricter enforcement of the P50-per-kilo cap on imported rice will begin next week after retailers are given time to adjust inventories and pricing.
Government officials said the parallel pricing measures form part of broader efforts to stabilize food markets and temper inflationary pressures without disrupting supply chains or discouraging local production.
