MANILA – The Agriculture and Trade departments mull setting suggested retail prices (SRPs) on commercial rice varieties sold nationwide.
The move aims to help promote fair and uniform pricing of rice in the market, Agriculture secretary Emmanuel Piñol said in a joint media conference of the Department of Agriculture (DA) and Department of Trade and Industry (DTI).
“One of the things we’re discussing is setting an SRP according to rice variety so consumers can be guided when buying, say, the dinorado variety,” he said.
Piñol said the two departments decided to study the matter after discovering disparity in the prices of commercial rice during their joint market inspection in Metro Manila early in the week.
Some of the prices DA and DTI saw during the inspection were no longer apt for the rice varieties the retailers are selling, he said.
“The pricing is ridiculous. There’s simply no reason for this,” he noted.
The agencies noted some rice varieties sell as much as P60 per kilogram.
Piñol said since the government does not impose SRPs on rice, this allows retailers to set their own prices on the staple.
Prices of commercial rice have shot up since the stock of state agency National Food Authority (NFA) plummeted.
Meanwhile, DTI secretary Ramon Lopez said feasibility studies and data regarding historical success and failure of setting SRPs would determine whether or not to come up with price guides.
“There will be a lot of consultations with stakeholders,” Lopez told the media in the briefing, ensuring transparency in the process of determining if the government would set the rice SRPs.
If SRP-setting pushes through, he said DTI would be monitoring retailers to guard against overpricing.
Last week, private rice traders began delivering to Metro Manila commercial rice for sale to the public at P39 per kilogram.
The delivery is in line with their commitment to help supply Metro Manila markets with lower-priced rice while NFA awaits the arrival of its imported rice.
NFA expects its imports to arrive next month.
NFA rice sells at lower prices than commercial rice in the market.
Regular milled and well-milled NFA rice in markets nationwide sell at P27 per kilogram and P32 per kilogram, respectively. (PNA)
