HIGH RICE PRICES
RAISING concerns over the persistently high rice prices particularly the imported ones, Agriculture Secretary Francisco Tiu Laurel, Jr. said the department will hold another consultative meeting with rice retailers and importers this week.
Tiu Laurel questions the sale of P60 per kilo of imported rice calling it indicative of profiteering.
He however, clarified that the meeting later this week would not be a price cap but a guide to keep prices within reasonable grounds.
DA officials in a recent meeting with rice importers and millers, scrutinized the industry’s pricing practices.
According to Tiu Laurel, the exorbitant price of imported rice is becoming increasingly unsustainable for consumers and such pricing could undermine government’s efforts to stabilize the rice market while negatively affecting local farmers’ livelihoods.
“In our meetings with importers, it’s clear that imported rice (that is 5 percent broken) should not be sold at P60 per kilo,” Sec. Tiu Laurel stated. “Selling imported rice at that price is already profiteering, in my opinion.”
For imported rice that is 25 percent broken, the DA chief said a kilo of the grain shouldn’t exceed P50 even with the margins needed to ensure profitability of importers and retailers.
Despite President Marcos Jr.’s decision to reduce rice tariffs from 35% to 15% in July, prices have remained elevated.
And to mitigate this, DA is promoting affordable alternatives like Sulit Rice (white but 100% broken rice) and Nutri Rice, a more nutritious but slightly polished variety.
Tiu Laurel also noted that eliminating “premium” or “special” labels as well a brand names on imported rice should help reduce overpricing.
“We know consumers are very brand-conscious, and labels like ‘premium’ or ‘special’ often attract higher prices even if the quality doesn’t justify it,” he said.
Under the proposed regulation, imported rice will only be identified by type, country of origin, and percentage of broken grains. Locally branded rice, however, will be exempt from this rule.
In parallel, the DA plans to expand the sale of Sulit Rice, a 100% broken high-quality rice, which is being sold at P36 per kilo.
The pilot testing in two areas has garnered positive feedback, and DA aims to make this rice more widely available through additional KADIWA ng Pangulo centers.
