Agriculture Secretary Francisco P. Tiu Laurel, Jr. raised concern on Monday over persistently high rice prices, particularly the sale of imported rice at P60 per kilo, calling it indicative of profiteering.
Sec. Tiu Laurel’s comments followed a recent consultative meeting with rice importers and millers, where DA officials scrutinized the industry’s pricing practices. The agri chief said the exorbitant price of imported rice is becoming increasingly unsustainable for consumers, and such pricing could undermine government’s efforts to stabilize the rice market while also negatively affecting local farmers’ livelihoods.
“In our meetings with importers, it’s clear that imported rice (that is 5 percent broken) should not be sold at P60 per kilo,” Sec. Tiu Laurel stated. “Selling imported rice at that price is already profiteering, in my opinion.”
For imported rice that is 25 percent broken, the DA chief said a kilo of the grain shouldn’t exceed P50 even with the margins needed to ensure profitability of importers and retailers.
The DA will hold a consultative meeting later this week with rice retailers and importers to establish a maximum suggested retail price for rice, with the aim of finalizing this framework by end January. However, Tiu Laurel clarified that this would not be a price cap but a guide to keep prices within reasonable bounds.
Despite President Ferdinand Marcos Jr.’s decision to reduce rice tariffs from 35% to 15% in July, prices have remained elevated. To mitigate this, DA is promoting affordable alternatives like Sulit Rice (white but 100% broken rice) and Nutri Rice, a more nutritious but slightly polished variety. Tiu Laurel also noted that eliminating “premium” or “special” labels as well a brand names on imported rice should help reduce overpricing.
“We know consumers are very brand-conscious, and labels like ‘premium’ or ‘special’ often attract higher prices even if the quality doesn’t justify it,” he said.
Under the proposed regulation, imported rice will only be identified by type, country of origin, and percentage of broken grains. Locally branded rice, however, will be exempt from this rule.
In parallel, the DA plans to expand the sale of Sulit Rice, a 100% broken high-quality rice, which is being sold at P36 per kilo. The pilot testing in two areas has garnered positive feedback, and DA aims to make this rice more widely available through additional KADIWA ng Pangulo centers.
Additionally, the DA is exploring the sale of affordable 5% broken rice as part of its strategy to offer lower-priced options to Filipino consumers. ###
