Rice retailers asked the Department of Agriculture to allow them some level of profitability as the government is studying imposing a suggested retail price (SRP) on the staple grain.
The Philippine Rice Industry Stakeholders Movement (PRISM) said rice producers and retailers must also be protected even as they are supportive of the DA’s move to put a cap on rice prices to protect consumers who are contending not only with rising food prices but also with the rising cost of utilities and other basic needs.
“While we see this as a normal inflationary adjustment in the pricing of goods and commodities, we expect the government to have some sensitivity to the plight of retailers and rice producers,” said PRISM co-founder Orlando Manuntag.
He said the group intends to push for P48 to P50/kg SRP on regular milled rice, P51 to P55/kg for well-milled rice and P56 to P60/kg for premium varieties.
PRISM and other rice groups have called for an industry-wide consultation with Agriculture secretary Francisco Tiu Laurel before the DA imposes the SRP on rice.
Rice prices went up by an average of P2 per kilogram, partly due to the increase in the buying price of paddy rice in rice-producing provinces and the high cost of imported grains.
Global rice price averages $650 per metric ton from country sources like Vietnam, Thailand and Pakistan.
Manuntag said PRISM sells the most affordable local rice varieties at P48/kg.
The DA earlier created a technical working group that will monitor, assess and oversee prices of basic agricultural commodities.
The group will also suggest measures that will ensure food availability and food security at all times.
PRISM said it is willing to work with the government on food sustainability goals, affordable pricing of agricultural products and collaboration on improving food production.
The DA anticipates a record harvest of 20 million metric tons of rice for crop year 2022-2023.
