The Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. has expressed concern over the sale of imported rice at P60 per kilo, deeming it profiteering and unsustainable for consumers. Laurel stated that imported rice (five percent broken) should not exceed P60 per kilo and 25 percent broken rice should not exceed P50. To address the issue, the DA will hold a consultative meeting with rice retailers and importers to establish a maximum suggested retail price for rice by the end of January. The meeting aims to provide a platform for stakeholders to discuss and address the pricing issue.
THE agriculture chief has criticized the sale of imported rice at P60 per kilo, describing it as profiteering.Department of Agriculture Sec. Francisco Tiu Laurel Jr. said in a statement on Tuesday, Jan, 7, 2025, that the exorbitant price of imported rice is becoming increasingly unsustainable for consumers, and such pricing could undermine government’s efforts to stabilize the rice market while also negatively affecting local farmers’ livelihoods.
To address the matter, the DA will hold a consultative meeting this week with rice retailers and importers to establish a maximum suggested retail price for rice, with the aim of finalizing this framework by end January; however, Laurel clarified that this would not be a price cap but a guide to keep prices within reasonable bounds.
RICE PROFITEERING DEPARTMENT OF AGRICULTURE IMPORTS RETAIL PRICES
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