Only 2 markets violate max SRP for imported rice

Two Metro Manila markets did not comply with the maximum suggested retail price (SRP) of P58 per kilo of imported rice after it took effect yesterday, according to the Department of Agriculture (DA).

- BELLA CARIASO

Guadalupe Commercial Complex in Makati City sold imported rice at P59 per kilo, while Pasay Public Market sold rice at P60 per kilo, Agriculture Assistant Secretary and spokesman Arnel de Mesa said.

Executive Order 62, which reduced to 15 percent the tariff on imported grains, did not result in lower rice prices.

The DA will submit a report to the Department of Trade and Industry and local government units (LGUs) regarding the two markets' non-compliance, De Mesa said.

After two weeks, he said the maximum SRP will be reviewed and could decrease to P55 per kilo.

Agriculture Secretary Francisco Tiu Laurel Jr. will have separate discussions with supermarkets to bring down rice prices, De Mesa noted.

Laurel is expected to declare a food security emergency tomorrow after reviewing the National Price Coordinating Council's resolution.

Upon the resolution's approval, De Mesa said the National Food Authority (NFA) will sell rice at P36 per kilo to local governments. Local authorities can resell the rice to the public at P38 per kilo.

NFA rice will be available in the markets starting Feb. 1, he noted.