Philippine News Agency
DA lauds Valenzuela LGU for flagging sale of P62/kg ‘President’ rice
A wet market in Valenzuela City was found selling "President"-labeled imported rice at P62 per kilo, exceeding the Department of Agriculture's (DA) suggested retail price (SRP).
Valenzuela Mayor Wes Gatchalian discovered the overpriced rice during an inspection of markets in Barangay Marulas.
The DA conducted a surprise market visit at the New Marulas Public Market to check on retailers' compliance with the set maximum suggested retail price (MSRP) for imported rice.
Agriculture Secretary Francisco Tiu Laurel Jr. lauded the Valenzuela LGU and Mayor Gatchalian for their swift actions in safeguarding consumer welfare.
The DA suspects the "President" rice, tagged as local, is actually imported, possibly from Chinese suppliers.
Following the LGU's instruction, retailers have suspended the sale of "President" rice as it is under investigation.
The DA has announced that the maximum SRP for rice will be further reduced to P45 per kilo on March 31.
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The Department of Agriculture (DA) is considering lowering the maximum suggested retail price (MSRP) for imported rice to P45 per kilogram by March 31, 2025, as global prices soften and the Philippine peso strengthens.
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The Department of Agriculture (DA) will implement a maximum suggested retail price (MSRP) of P45 per kilo for imported rice starting March 31, 2025.
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