Philippine Agriculture Secretary Francisco Tiu Laurel Jr. announced plans to remove brand labels from imported rice to combat price manipulation. He alleges that retailers and traders are using branded imports to justify inflated prices and exploiting consumers. The policy aims to ensure a fair price for consumers while protecting local farmers and traders. The DA is also exploring other measures to address rice price volatility, including invoking a food security emergency and releasing buffer stocks from the National Food Authority (NFA).
Agriculture Secretary Francisco Tiu Laurel Jr. on Thursday announced his plan to remove brand labels on imported rice in a bid to combat price manipulation of the grain staple."After conducting a series of market visits, we now have reason to believe that some retailers and traders are intentionally confusing Filipino consumers with branded imports to justify the high prices of rice," Tiu Laurel said in a statement.
He said that, for example, if rice is purchased from Vietnam at an all-in cost of P40 per kilo, the consumer price should not exceed P48 per kilo.Tiu Laurel added that the DA is also considering several measures to address rice price volatility, including invoking a food security emergency under the amended Rice Tariffication Law, which would allow the release of buffer stocks from the National Food Authority to stabilize prices.
Agriculture Rice Price Manipulation Importation Philippines
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