Baguio: Retailers in Baguio's market have pledged to adhere to the PHP50 per kilo price cap on 5-percent broken imported rice as mandated by Executive Order 118. John Paul Peralta, spokesperson of the Baguio Public Market Rice Retailers Association, confirmed their compliance, stating that frequent inspections by the Department of Agriculture (DA) and Department of Trade and Industry (DTI) have consistently shown adherence to the suggested retail price.

According to Philippines News Agency, Peralta mentioned that spot inspections can occur up to three times a day, with no violations found among the retailers. In response to the price cap announcement, rice traders convened to strategize on managing stocks purchased at higher prices while still complying with the order.

Peralta explained that retailers prefer selling rice at lower prices to quickly recoup their investments, especially given the current low demand due to a decrease in tourists. He reassured consumers of an adequate rice supply, highlighting the availability of local rice from regions such as Nueva Vizcaya, Pangasinan, Tarlac, Isabela, and Cagayan, which is sold at PHP45 per kilo.

Authorities are conducting comprehensive inspections, including checking stores, stocks, and receipts, to verify retailers' buying prices and supply sources. Peralta also noted that traders have started increasing their inventory in anticipation of potential rice price increases by September, as advised by the DA. He emphasized that they aim to maintain current prices as long as they can purchase supplies at reasonable rates.