P45 rice max SRP may start March 31 - DA

The maximum suggested retail price (SRP) of P45 per kilo of imported rice will push through on March 31, Agriculture Secretary Francisco Tiu Laurel Jr. said yesterday.

- Bella Cariaso

Initially set at P58 per kilo on Jan. 20, the rice max SRP declined to P49 per kilo on March 1.

A lower max SRP is achievable amid the continued decline of rice prices in the world market and a stronger peso, Department of Agriculture (DA) spokesman Arnel de Mesa said.

The farmgate price of palay will not be affected by the reduced rice max SRP, he said.

Meanwhile, De Mesa said implementation of the food security emergency will be boosted by the Commission on Elections' ruling that the sale of the National Food Authority (NFA)’s rice stocks to local government units (LGUs) is not covered by the election spending ban.

The DA, he said, is hoping that LGUs will be encouraged to buy NFA rice so that warehouses will be freed of stocks in time for local farmers’ harvest.

Only San Juan, Camarines Sur and Navotas withdrew rice from NFA warehouses, De Mesa noted.

“At least 25 LGUs nationwide have transactional request agreements with the NFA,” he said.