To address the unreasonable retail prices of rice in some local markets, the Department of Agriculture (DA) is set to establish a “maximum suggested retail price (SRP) system” before the end of January.
In an interview on Monday, Agriculture Secretary Francisco Tiu Laurel Jr. said there should be no imported rice being sold at PHP60 per kg.
“We are now trying to establish ano ba ang (what’s the) maximum suggested retail price. So, we will be coming up with a maximum suggested retail price system very soon,” he said.
The DA chief, however, clarified that the system will not act as a price cap on retail rice.
“It’s not a suggestion, it’s like we’re saying na ito dapat ang maximum na presyo niyan (this should be the maximum price of that). But it’s not a price cap,” Tiu Laurel said.
Moreover, a PHP60/kg.-level of retail rice may already be considered as profiteering, he added.
To hold importers and retailers liable for possible profiteering, the DA is set to meet with the Department of Trade and Industry (DTI), Bureau of Internal Revenue (BIR), National Bureau of Investigation (NBI), Philippine National Police (PNP), and Department of Interior and Local Government (DILG).
“Para ma-sort namin ang aming remedies kung paano ma-address ito. Clearly, nasa Price Act ata ang profiteering angle (To sort available remedies to address this. Clearly, the profiteering angle is in the Price Act),” Tiu Laurel said.
In terms of rice brands, he maintained DA’s plans to remove “premium” and “special” labels to further prevent profiteering.
“People are very brand conscious and I know that better than anybody in this country dahil (because) I’m a brand owner, I used to be a brand owner myself,” Tiu Laurel said.
“In the label pagka sinabi mong premium or special, hindi ba mas na-a-attract ka doon at willing ka na bilhin iyon nang mas mahal. Pero actually, hindi naman siya premium o special, parehas lang siya ng mga katabi niya (when you say premium or special, you’re usually attracted and more willing to spend higher for that. But actually, it’s really not premium nor special compared to others in line),” he added, citing contradiction to price levels in markets only using rice types, origin, and specification percentage.
As of Jan. 3, prices of local and imported regular and well-milled rice in Metro Manila range from PHP38/kg. to PHP54/kg., according to the DA-Bantay Presyo.
Premium and special-labeled rice, both imported and local, however, range from PHP48/kg. to PHP64/kg. (PNA)
