'Maximum SRP on imported rice may drop to P47/kilo'

The maximum suggested retail price for imported rice may still go down to P47 per kilo, Department of Agriculture (DA) Assistant Secretary Arnel de Mesa said yesterday, after farmers' group Samahang Industriya ng Agrikultura (SINAG) said the plan of the DA to impose a maximum SRP on imported grains not exceeding P60 per kilo is still high.

- By BELLA CARIASO

"The initial estimate of P60 (per kilo) for five percent broken may still go down once the cost in the international market further goes down. For 25 percent broken, our initial estimate is the retail price should not exceed P50 per kilo," De Mesa said. "Considering the current exchange rate and tariff of 15 percent and $30 shipping cost, plus P8 added cost of the retailers, it is very clear that based on our calculation, it should be P50 or lower. The estimate of SINAG of P45 to P47, that's a possibility," he said.