Featured News

The Department of Agriculture (DA) on Tuesday said the PHP50 per kilogram price cap for 5 percent broken imported rice is unlikely to be extended.

This came after the DA conducted a joint market inspection with the Department of Trade and Industry at New Las Piñas City Public Market.

In an interview, DA Secretary Francisco Tiu Laurel Jr. said the price cap extension may no longer be necessary considering the current retail price levels.

“Malamang walang price cap. Base sa ikot namin kanina, because ang price cap na sinet was PHP50, nakita namin kanina na may (Perhaps, there will be no price cap. Based on our rounds earlier, because the price cap was set at PHP50, but we saw that there are) PHP47, PHP48 and PHP50,” he said.

“So, I think hindi na kailangan ng (there’s no need for) extraordinary measures as of the moment.”

Earlier, the DA had proposed a 60-day extension before the National Price Coordinating Council (NPCC) to ensure stable retail prices of rice.

Tiu Laurel, meanwhile, maintained the request from the rice importers to temporarily halt the imports of 5 percent broken imported rice.

The agriculture chief earlier said this move will give a “fighting chance” for local rice.

Tiu Laurel also cited his call to rice traders to sustain fair market prices for Filipino consumers.

“I urged the Rice Millers Association of the Philippines, Rice Millers, to more or less discuss with them what is a fair price for all,” he said.

“Para lang everybody doing the supply chain makes money kasi ayaw naman natin may maiwan (So that everybody doing the supply chain makes money because we don’t want anyone left behind). So, at the end of the day, consumers should have a fair price.”

As of Monday, premium imported rice in Metro Manila sells at PHP48 to PHP55 per kg, while the price of imported well-milled rice ranges from PHP45 to PHP50 per kg, according to the DA Bantay Presyo (Price Watch).

Local premium rice is at PHP46 to PHP60 per kg, while the prevailing prices of local well-milled rice and regular milled rice are PHP48 and PHP45 per kg, respectively. 

Source : pna