DA to impose 'maximum SRP' on imported rice

The Department of Agriculture (DA) will implement a maximum suggested retail price (SRP) on imported rice, Agriculture Secretary Francisco Tiu Laurel Jr. announced yesterday.

- By BELLA CARIASO

Rice retail price remains high at P64 per kilo despite the implementation of Executive Order 62, which lowered the tariff on imported grains to 15 percent from the previous 35 percent.

In a chance interview after the DA's flag ceremony, Tiu Laurel maintained that if the retail price of imported rice reaches P60 per kilo, it is already considered profiteering.

"This week, we will be meeting some of the retailers and importers. It is clear to me that there should be no P60 per kilo of imported rice in the market and in my opinion, it is already considered profiteering if the imported rice is already P60," Tiu Laurel said.

Based on the DA's latest monitoring, the retail price of imported special rice has reached as high as P64 per kilo; imported premium rice, as high as P60 per kilo; imported well-milled rice, as high as P54 per kilo and imported regular milled rice, as high as P48 per kilo.

"We are now trying to establish what the maximum suggested retail price should be. We will be coming up with the maximum retail price very soon," Tiu Laurel said.

"Before the end of January, (hopefully,) we can release the maximum SRP. It is not a suggestion; we are saying that this should be the maximum price, but it is not a price cap," the DA chief said.

Standard labeling

The source of origin, brokenness and type should be included in the labeling of imported rice being sold in the markets, according to a ranking DA official.

At a press conference yesterday, DA Assistant Secretary and spokesman Arnel de Mesa stressed that the move is part of the efforts of Tiu Laurel to standardize the labeling on imported rice.

"First, the secretary believed that there is abuse in the retail price of rice. Again, we're talking only of the imported rice," De Mesa said.

Tiu Laurel said retailers and traders are intentionally confusing consumers with premium rice imports to justify the high prices of the grains.