Manila: The Department of Agriculture (DA) has announced the issuance of 16 show-cause orders to retailers selling imported rice at prices exceeding the maximum suggested retail price (MSRP). The MSRP for 5 percent broken imported rice is set at PHP43 per kg.
According to Philippines News Agency, DA spokesperson Assistant Secretary Arnel de Mesa explained in a phone interview that the retailers have been asked to justify the price hikes. The retailers must clarify how much they paid for the rice and why they are charging higher prices, unless they sourced it at a high cost. The DA will also investigate suppliers who may have sold rice to these retailers at inflated prices.
Most of the show-cause orders were directed at Agora Public Market, with seven stalls receiving notices. Four orders each were issued to retailers in Pritil Market and Kamuning Public Market, and one in Commonwealth Market. This action is part of the DA’s efforts to ensure stable rice prices nationwide.
As of Tuesday, the prevailing price of premium or 5 percent broken imported rice in Metro Manila stands at PHP48.62 per kg. The price of imported well-milled rice is PHP40 per kg., while imported regular-milled rice is priced at PHP39.55 per kg. The DA stated that the elevated prices are unjustified due to low import costs and a sufficient supply amid the ongoing wet-season palay harvest.
De Mesa emphasized the importance of market inspections in collaboration with the Department of Trade and Industry (DTI) to ensure compliance. He also mentioned that the depletion of imported rice stocks would lead to the availability of more locally-harvested rice, encouraging Filipinos to consume local rice and support local farmers.
In a separate briefing, de Mesa assured that the country’s rice supply remains sufficient despite a projected depletion of imported stocks by mid-November due to an extended import ban. By the end of the year, the DA expects an ending stock inventory of approximately 3.4 million metric tons, sufficient for 89 days of national rice consumption.
