DA sets max suggested retail price for imported rice, veggies, meat

To address high retail prices of imported rice and other food commodities in local markets, the Department of Agriculture (DA) is set to establish a 'maximum suggested retail price' system starting January.

Agriculture Secretary Francisco Tiu Laurel Jr. stated that imported rice should not be sold at PHP60 per kg and expanded plans to include vegetables and meat under the MSRP scheme by the end of the month.

The DA is now working with the Department of Trade and Industry (DTI) to finalize guidelines for the MSRP, address profiteering by food traders, remove misleading labels, and ban marketing terms like 'premium' and 'special'.

Imported rice will be labeled with country of origin, type, and amount of broken rice content, as part of efforts to ensure transparency in pricing.

The DA is investigating whether there are cartels responsible for hoarding and manipulating food supply and prices while also considering using Republic Act No. 12022 or the Anti-Agricultural Economic Sabotage Act as a basis for imposing fines on violators.

Both agencies intend to provide rice importers and traders with a reasonable profit margin that will not subject Filipino consumers to 'excessively' rising retail prices, according to DA Chief Tiu Laurel.