Agriculture Secretary Francisco P. Tiu Laurel Jr. announced Tuesday that the Department of Agriculture (DA) has reached an agreement with rice industry stakeholders to set a suggested retail price (SRP) of P53 per kilo for local rice, striking a balance between farmers’ profits and consumers’ budgets.
The SRP positions local rice slightly above imported 5-percent broken rice, which President Ferdinand Marcos Jr. capped at P50 per kilo for 30 days starting May 15.
“This is not a price ceiling. It’s just a guide for consumers on fair local rice prices,” Tiu Laurel clarified.
Rice remains a politically sensitive staple, affecting household budgets, inflation, and even monetary policy decisions by the Bangko Sentral ng Pilipinas.
“I’ve consulted rice millers and industry groups, and P53 per kilo is acceptable,” he added, noting that market players may still sell lower, allowing others in the value chain to earn reasonable margins.
A DA memorandum detailing the SRP will be released soon.
On imported rice, Tiu Laurel said full enforcement of the P50 price cap will begin next week, giving retailers and consumers time to adjust. “We will start full enforcement next week,” he confirmed
