DA drops plan for rice SRP

The Department of Agriculture (DA) is not considering the imposition of a suggested retail price (SRP) on rice, Secretary Francisco Tiu Laurel Jr. said yesterday.

- BELLA CARIASO

"We're not doing it. Prices of rice and other agricultural products in international markets like Thailand and other countries are volatile and fluctuating due to El Niño. Hence, we're not suggesting to control - prices at the moment," Laurel said.

Laurel's announce=ment came a few days after DA spokesperson Arnel de Mesa said the agency may release the SRP next week amid the unabated spike in retail price of the grains.

At a press conference on Monday, De Mesa said that a technical committee even met to discuss the SRP of rice two days after announcing that the DA was mulling its implementation.

Laurel maintained that earlier proposals for an SRP were just an idea based on available remedies laid out by Republic Act 7581 or the Price Act.

“I’m well aware that setting retail prices, even if just suggested, for particular goods tend to be counterproductive, especially when there is ample supply,” Laurel added.

The Price Act Law empowers the DA to stabilize prices of farm products and inputs, including rice, fish, meat, poultry and fertilizers, in times of emergencies, he said.