Agriculture Secretary Francisco Tiu Laurel Jr. on Tuesday said the Department of Agriculture has agreed with rice industry stakeholders to set a suggested retail price (SRP) of P53 per kilo for local rice.
He said the decision is expected to balance fair returns for farmers with affordable prices for consumers.
The SRP places local rice slightly above imported 5-percent broken rice, which President Ferdinand Marcos Jr. placed under a P50-per-kilo price cap for 30 days starting May 14.
The DA chief clarified that the SRP is not a price ceiling but a guide for consumers on fair local rice prices.
Rice remains a politically sensitive commodity in the Philippines because of its impact on household spending, inflation, and monetary policy decisions of the Bangko Sentral ng Pilipinas.
Tiu Laurel said consultations with rice millers and industry groups showed broad support for the P53-per-kilo SRP. He added that retailers may still sell below the suggested price, allowing other players in the supply chain to earn reasonable margins.
The DA is expected to release a memorandum outlining the SRP guidelines anytime soon.
For imported rice, Tiu Laurel said full enforcement of the P50-per-kilo price cap will begin next week to give retailers and consumers time to adjust.
“We will start full enforcement next week,” he said.
