Gov’t warns rice retailers on prices | Inquirer Business

Gov’t warns rice retailers on prices

By: - Reporter / @kocampoINQ
/ 05:14 AM November 02, 2018

Rice traders and retailers who will not follow the newly implemented suggested retail prices (SRPs) on rice may have their licenses revoked by the National Food Authority (NFA), the agriculture secretary said.

However, they still have 12 days before penalties and sanctions could be enforced following a 15-day publication period required by law.

According to Agriculture Secretary Emmanuel Piñol, since the SRP was launched and published on Saturday, government agencies were only monitoring the markets “based on the goodwill of the grains industry.”


But once the publication period is over, traders and retailers who will not comply with the SRPs—those who will sell beyond the 10-percent margin—can have their licenses revoked. Under the Price Act of 1992, violators also face a jail term of between five and 15 years and fines up to P1 million.


As approved by the NFA Council, the SRPs for rice are as follows: Imported well-milled, P39 a kilogram; imported premium, P43 and P40 a kilo depending on the grade; local regular-milled, P39 a kilo; local well-milled, P44 a kilo; and local premium grade, P47 a kilo.

Currently, the SRPs are only being implemented in public markets across Metro Manila, but this will eventually cover regional markets in the next two weeks, said Piñol.

Meanwhile, labelling of rice sacks is expected to be implemented by the start of 2019 as part of the government’s move to ensure food safety and traceability. This is also seen as a means to avoid overpricing or underweighing of the staple.

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TAGS: Agriculture Secretary Emmanuel Piñol, National Food Authority (NFA)

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