The Department of Agriculture (DA) is planning to establish a “maximum suggested retail price” (MSRP) system for imported rice to reduce its market prices.
According to Agriculture Secretary Francisco Tiu Laurel Jr., the measure might be introduced by the end of January. He clarified that the MSRP system is different from a price cap.
“It is not a suggestion. It is like we are saying na ito dapat ang maximum presyo nyan. But it is not a price cap. We will be coming up with the MSRP system very soon,” suno kay Laurel.
DA spokesperson Arnel De Mesa added that the agency is also considering requiring product labels to include the rice type, country of origin, and percentage of broken rice in products sold in the market.
The DA plans to coordinate with other agencies to impose sanctions on violators of the MSRP system.
This initiative follows marathon hearings in the House of Representatives last year, which focused on alleged price manipulation, profiteering, and hoarding of imported rice. Lawmakers grilled concerned agencies, including the DA and the National Economic and Development Authority (NEDA), over the failure to reduce imported rice prices despite government tariff reductions.
Based on the DA’s latest price monitoring, imported special rice in Metro Manila is priced between PHP 54 and PHP 65 per kilogram, while imported premium rice ranges from PHP 52 to PHP 60 per kilogram.
