ILOILO CITY – Rice retailers in Iloilo City have yet to implement the P49 per kilogram maximum suggested retail price (MSRP) on imported rice.
This marks the first time the MSRP for imported rice is set to drop below P50, following the mandate of the Department of Agriculture.
In an interview with Bombo Radyo, a rice vendor at La Paz Public Market, alias Bing-Bing, stated that they cannot comply with the P49 price per kilogram as it would result in financial losses.
According to the vendor, the cost of their rice supply remains high, making it difficult to sell at the mandated price.
To adjust, the vendor said they could only offer a P20 discount per 25-kilogram sack of rice.
As of now, imported rice is priced at P60 per kilogram, premium rice at P58, and the cheapest variety at P55.
The vendor explained that if they lower their prices further, they would struggle to cover expenses such as rent, plastic bags, and transportation fees.
-𝗪𝗶𝘁𝗵 𝗮 𝗿𝗲𝗽𝗼𝗿𝘁 𝗳𝗿𝗼𝗺 𝗕𝗼𝗺𝗯𝗼 𝗣𝗵𝗮𝘂𝗹𝗶𝗻𝗲 𝗣𝗶𝗹𝗹𝗼𝗿𝗮
