Traders commit to lower rice prices starting July

Rice retailers have committed to selling rice at lower prices, or P45 per kilo, starting in July.

- DELON PORCALLA

At a meeting yesterday with Speaker Martin Romualdez, rice traders predicted rice prices in July and August: wellmilled rice, 25 percent broken, at P45 to P46 per kilo, and premium rice, five percent broken, at P47 to P48 per kilo.

"We are prepared to help the government soften the impact of inflation and help the people feel the immediate effect of lowering the tariff for rice," said Grain Retailers Confederation of the Philippines spokesman Orly Manuntag.

"Let's help each other so that we can ensure the reduction of rice tariffs and thus result in the reduction in the price of rice," said Grecon lead convenor Rowena Sadicon.

The Philippine Rice Industry Stakeholders Movement, led by Manuntag and Sadicon, met with Romualdez to discuss ways to lower rice retail prices.

President Marcos issued Executive Order 62 on June 20, formalizing reduced tariffs to 15 percent from 35 percent until 2028. Economic managers believe it could bring down rice prices to P29 per kilo.

"Your commitment to making affordable rice accessible to our people is greatly appreciated," Romualdez said after the meeting at the Manila Golf Club in Makati City.