SM Group joins DTI’s cheap rice program

MANILA, Philippines — The SM Group of tycoon Henry Sy Sr. has joined other retailers in giving access to cheaper rice under the Presyong Risonable Dapat (PRD) Program by making the staple available at its supermarket outlets.

In a statement, the Department of Trade and Industry (DTI) said the PRD program was launched at SM Makati Friday.

With the launch, consumers can now purchase imported well-milled rice at P35 per kilo at the 230 SM Supermarket, Hypermarket, and Savemore branches in the Greater Manila Area and North Luzon.

Affordable imported well-milled rice will be available at all SM supermarket outlets in the country by early next year.

Earlier this month, Robinson’s Retail Holdings Inc. and Puregold Price Club Inc. started selling imported well-milled rice at a fixed price.

 Under the program being implemented by the DTI in partnership with the Department of Agriculture and the National Food Authority, retailers are allowed to directly import rice and sell it at a fixed price of P38 per kilo and below.

To be part of the PRD program, retailers had to apply with the DTI and indicate the volume they intend to import and the retail outlets where the imported rice would be sold.

Retailers also had to pay for the appropriate tariff and other necessary fees and charges for the imports.

The program removes traders in the equation, enabling retailers to source the rice directly and sell the staple at their stores, as well as provide consumers more access to affordable and quality rice varieties.

DTI Secretary Ramon Lopez said the program was aimed at mitigating the effects of inflation on food prices.

After SM, other retailers are also expected to follow suit.

“Next would be Shopwise, Rustan’s, Metro Gaisano and Isetann,” Lopez said.