P50 imported rice price cap deemed fair, domestic rice SRP to be set at P53 per kilo

THE Department of Agriculture (DA) called the P50 per kilo price ceiling on imported rice fair for all participants in the supply chain, while announcing plans to establish a P53 per kilogram suggested retail price (SRP) for domestically grown rice.

Agriculture Secretary Francisco P. Tiu Laurel, Jr. said on Tuesday that the cap on the 5% broken variety of imported rice — imposed by President Ferdinand R. Marcos, Jr. for 30 days starting May 14 — assumed a landed cost of P37 to P38 per kilo, leaving a margin sufficient to cover logistics, shrinkage, and markups.

“There is still a workable margin across the value chain,” Mr. Laurel said after inspecting rice prices at Paco Public Market. “We are ensuring that consumers get affordable rice while traders and retailers remain viable. The goal is balance, not disruption.”

“For the entire value chain — from importer to trader to retailer — the markup should only be around P10. If landed cost is P38, retail should be about P48,” he said.

“No one should be profiteering, especially during this period,” Mr. Laurel added.

Full enforcement of the price cap will begin next week, giving retailers and consumers time to adjust. DA field teams will monitor markets nationwide and distribute implementation guidelines with contact details for stakeholder concerns.

Meanwhile, Mr. Laurel said the DA has reached a consensus with the rice industry to set a suggested retail price of P53 per kilo for domestic rice, positioning it slightly above the imported rice ceiling.

The SRP “is just a guide for consumers on fair local rice prices,” he said, adding that market participants remain free to sell for less. “I’ve consulted rice millers and industry groups, and P53 per kilo is acceptable.”

A DA memorandum detailing price guidance for domestic rice will be issued shortly. — Pierce Oel A. Montalvo