Traders will shoulder SRP adjustment, Piñol assures Zamboanga rice retailers

AGRICULTURE SECRETARY Emmanuel F. Piñol has assured rice retailers in Zamboanga City that the adjustment for the suggested retail price (SRP) that will be imposed starting next week will be shouldered by traders and wholesalers. “There’s no threat in the retailers because of their constant mark-up between P2 to P3 per kilo… the one who will do the adjustment will be the traders and wholesalers,” Mr. Piñol said during a visit to the city last week to meet with coconut industry representatives. Mr. Piñol noted the discrepancies in the prices of rice between Metro Manila and the provinces, where it is usually higher by at least a peso, due to transportation costs. The proposed SRP for regular-milled rice is P40 per kilo (/k), P45 for well-milled, and P48 for premium rice. In late August this year, a state of calamity was declared in the city following more than two weeks of rice shortage and continued spiking of rice prices, which saw the regular milled variety at P80/k. The shortage was attributed tot he strengthened campaign against smuggled rice, coupled by the delay of imports by the government and the off-harvest season. — Albert F. Arcilla