MANILA – The prices of retail rice may dip further in the local markets with the target lowering of the maximum suggested retail price (MSRP) for rice and Rice For All (RFA) varieties, the Department of Agriculture (DA) said Friday.
The DA earlier announced the lowering of MSRP on 5 percent broken imported rice to PHP43/kg from the current PHP45/kg on July 1.
In an ambush interview, DA Secretary Francisco Tiu Laurel Jr. said they are also targeting to lower prices of RFA varieties next month.
“I expect na bumaba din ng isa hanggang dalawang piso ang retail price ng bigas (I expect a drop of about PHP1 to PHP2 per kg. in rice retail prices),” he said when asked what would be the possible effects of the DA’s moves in July.
In terms of the RFA’s adjusted amounts, Tiu Laurel said it would be finalized during discussions next week to benefit consumers while securing reasonable profit for farmers.
To date, the price of the DA's RFA5 or 5 percent broken is PHP43/kg.; PHP35/kg. for RFA25 or 25 percent broken; and PHP33/kg. for RFA100 or 100 percent broken.
“Meron tayong discounted pero meron naman tayong premium price na (we have discounted rice but we also have premium rice that) we will sell at a profit. But it should be cheaper sa mga regular prices ng mga (from the regular prices of) retailers,” Tiu Laurel said.
As of June 11, the prevailing prices in Metro Manila are PHP45/kg. for imported premium and well-milled rice and PHP40/kg. for imported regular-milled rice, according to the DA price monitoring.
Prices of premium imported rice, meanwhile, range from PHP44 to PHP50/kg.; imported well-milled rice from PHP38 to PHP48/kg.; and imported regular-milled rice from PHP35 to PHP45/kg.
Prices of premium local rice, meanwhile, range from PHP44 to PHP60/kg.; PHP38 to PHP52/kg. for local well-milled rice; and PHP32 to PHP45/kg for local regular-milled rice, with prevailing prices set at PHP50, PHP45, and PHP40, respectively. (PNA)