Price caps for rice in force by late October

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rice stall

AGRICULTURE SECRETARY Emmanuel F. Piñol on Monday said the suggested retail price (SRP) scheme for rice will be implemented by the end of October.

“We will set SRPs on the last week of October. On Oct. 18, Thursday, the rice industry stakeholders will meet in my office in Quezon City to set SRPs for each variety of rice,” Mr. Piñol said in a briefing at the Palace on Monday.

He added that SRP levels can now be set since supply is ample during harvest season.

He said the harvest and the arrival of imported rice is currently exerting downward pressure on prices and domestic producers are complaining they cannot get good prices for their crop.

“We used to have a problem with consumer complaints because of high prices, but now farmers are complaining because prices for palay (unmilled rice) are falling. That’s the problem with agriculture. It’s difficult to keep (interests) in balance. You can favor the consumers and displease the farmers,” he said. — Arjay L. Balinbin