The Department of Agriculture (DA) has established a suggested retail price (SRP) of ₱53 per kilo for locally produced rice, a strategy designed to protect consumer purchasing power while safeguarding the earnings of local farmers.
Agriculture Secretary Francisco Tiu Laurel Jr. announced the agreement on Tuesday, following extensive consultations with key rice industry stakeholders and millers to find an acceptable baseline for the local market.
Tiu Laurel clarified that the ₱53 benchmark serves as an indicator of fair market value rather than a strict legal mandate.
“This is not a price ceiling. It’s just a guide for consumers on fair local rice prices,” he said.
The newly set SRP positions local rice slightly higher than imported 5% broken rice, which was recently placed under a strict ₱50-per-kilo price cap for 30 days starting May 14, by directive of President Ferdinand “Bongbong” Marcos Jr.
According to Tiu Laurel, the local pricing guide was well-received during stakeholder discussions.
“I’ve consulted rice millers and industry groups, and ₱53 per kilo is acceptable,” he added.
Because the SRP is non-binding, the Agriculture Secretary emphasized that retailers retain the flexibility to sell local rice below the ₱53 threshold, depending on their specific supply chain margins and shifting market conditions.
Meanwhile, regarding the mandatory price ceiling on foreign supply, Tiu Laurel noted that the government is giving the market a grace period to transition before penalties are imposed.
“We will start full enforcement next week,” he said, explaining that the delay allows retailers and consumers adequate time to adjust to the ₱50 cap.
The DA is expected to release an official memorandum soon to formally implement the new pricing guidelines.