Starting today, rice of certain varieties will be cheaper by P3 per kilo (kg) under the Kadiwa ng Pangulo’s Rice-for-All (RFA) program, the Department of Agriculture said yesterday.
The price of RFA rice, with 5 percent broken grains, will be priced at P43 per kg, down from P45 per kg, RFA with 25 percent broken at P35 per kg from P38, and RFA with 100 percent broken at P33 per kg from P36.
Kadiwa rolling stores will continue to sell rice at P29 per kilo for vulnerable groups, such as senior citizens, persons with disabilities, solo parents and individuals from indigent sectors.
Agriculture Secretary Francisco Tiu Laurel Jr. said the price cut reflected both the drop in global rice prices and increased domestic supply as the local harvest gets underway.
Even if international rice prices have eased, the National Food Authority (NFA) will procure palay from local farmers at a price range of P21 to P23 per kilo to ensure fair compensation for their harvest, Laurel said.
The DA secretary gave farmers an assurance that the NFA has sufficient funds to support them and uphold the agency’s mandated rice buffer stock, now equivalent to 15 days of national consumption under the revised Rice Tariffication Law.
Laurel also said such moves will complement the earlier announced reduction in the maximum suggested retail price (MSRP) of imported rice and its expanded nationwide coverage this Friday.
Beginning February 15, the MSRP for imported rice will be lowered to P52 per kilo from P55 per kg and will be reduced further to P49 by March 1.
“This gradual approach aims to mitigate potential market disruptions,” Tiu Laurel said.
The DA, together with the country’s economic managers will soon review Executive Order 62 to assess whether rice tariff needs to be adjusted as it is currently pegged at 15 percent from the previous 35 percent.
Laurel said he is inclined to recommend only a revision to the current tariff level if retail prices of imported rice eased to the P42 to P45 per kg range.
Laurel said the DA is also looking to implement an MSRP on pork to address an excessive gap between farmgate and retail prices as the current retail price of pork at P400 per kg or higher is “unreasonable.”
He said a decision on the possible imposition of an MSRP for pork is expected by the end of February, with the aim of curbing profiteering, especially since the current farmgate price of hogs stands at P240 to P250 per kg.
“We are conducting a thorough analysis of the pork value chain. If evidence of profiteering emerges, we will not hesitate to institute an MSRP for pork,” Laurel said.
Based on DA’s monitoring of public markets in the National Capital Region, local well-milled rice sold for P42 to P52 per kg on Monday while regular milled rice went for P38 to P45 per kg.
Imported well-milled rice was selling for P44 to P45 per kg while the price of imported regular milled rice ranged from P38 to P46 per kg.
Special variety imported rice fetched P51 to P62 and premium rice, P48 to P58.
Special variety local rice was selling for P55 to P63 per kg, and premium rice for P46 to P58 per kg.
DA monitored the prevailing price range of pork ham from P350 to P420 per kg; pork belly from P380 to P480 per kg; frozen kasim from P230 to P290 per kg; frozen liempo from P290 to P350.
