Rice max SRP lowered; P49/kilo seen in March

MANILA, Philippines — Authorities are expecting the maximum suggested retail price of rice to decline to P49 per kilo by March after the Department of Agriculture (DA) on Saturday enforced a max SRP of P52 per kilo.

A few violators of the max SRP have been recorded, the DA noted.

“There are retailers who still have old stocks, but these are limited. Many retailers complied, but the level of compliance is not yet high,” DA spokesman Arnel de Mesa said.

Agriculture Secretary Francisco Tiu Laurel Jr. is committed to fulfilling his promise of bringing down retail rice prices, he noted.

Tiu Laurel issued a max SRP amid high rice prices despite a 20-percent tariff cut. A food security emergency has also been declared.

“We did not monitor P64 per kilo of five-percent broken rice. Most of the rice is sold at P55 to P62 per kilo, but these are special rice, not premium rice,” De Mesa noted.

Traders were given about two weeks to comply with the max SRP, he said.

De Mesa said the price trend of rice shows a continued decline in India, Thailand and Vietnam.

P35/kilo NFA rice

Meanwhile, about 67 local government units (LGUs) have signified their intent to sell NFA rice at P35 per kilo under the food security emergency, according to the National Food Authority.

“This week, we expect to start releasing NFA rice... Hopefully, more LGUs will participate,” NFA administrator Larry Lacson said.

The NFA can sell its rice stocks at P33 per kilo to mayors who can resell the staple at P35 per kilo, as per the food security emergency issued on Feb. 4 by Tiu Laurel.

Lacson said the NFA has around 812,000 bags of rice stock.

In Occidental Mindoro, he said there are at least 612,000 sacks of palay and 10,188 bags of rice stored in NFA warehouses.

A food security emergency has been declared as measures to reduce rice prices failed.