RICE / JANUARY 7, 2024Rice retailers attend their stores, selling various local and imported rice varieties that retail for P40 to P64 per kilo at the Marikina Public Market on Tuesday, January 7, 2024. The Department of Agriculture will be implementing a maximum suggested retail price (MSRP) for imported rice at the end of this month, stressing that there should be no imported rice priced at P60 per kilogram in the market.INQUIRER PHOTO / NINO JESUS ORBETA
MANILA, Philippines — The National Price Coordinating Council (NPCC) is looking at possible measures that would allow the Department of Agriculture (DA) to declare a food security emergency and eventually mitigate rising prices of basic commodities.
At the House of Representatives Quinta committee hearing on Wednesday, Department of Trade and Industry Director Cherryl Carbonell said that the NPCC met on Tuesday, and they are looking at crafting a resolution declaring an extraordinary increase in prices of goods.
Article continues after this advertisement“And Mr. Chair I’d just like to give an update din po that the National Price Coordinating Council met yesterday, and we are looking at ‘yong possibility po of declaring that there is an extraordinary increase in price, to allow the DA Secretary to declare a food security emergency,” Carbonell told the committee members.
FEATURED STORIES NEWSINFO Comelec halts printing of ballots for May polls NEWSINFO Marcos, wife Liza host dinner for senators NEWSINFO PNP defends self after DILG chief smells ‘conspiracy’“But we’re still working on the resolution,” she added.
Committee on Agriculture and Food chairperson and Quezon 1st District Rep. Wilfrido Mark Enverga said he hopes this can be acted upon immediately.
Article continues after this advertisement“And DA is part of NPCC right? So I hope there’s immediate action for this,” he noted.
Article continues after this advertisementLast December 2024, Agriculture Secretary Francisco Tiu Laurel Jr. said that they are considering the declaration of a “food security emergency” by January as it scrambles to rein in rice prices.
Article continues after this advertisementLaurel told the Inquirer in a text message that he was scheduled to meet with key agencies under the DA, including the Bureau of Plant Industry and the National Food Authority (NFA), to assess the national rice situation.
READ: DA mulls ‘food security emergency’ to rein in rice prices
Article continues after this advertisementThe assurance from Carbonell came after Enverga asked Agriculture Undersecretary Asis Perez if there are efforts to amend Republic Act No. 7581 or the Price Act, since it appears the said law hinders DA from implementing more stringent measures against rising prices of goods.
After this, Enverga discussed the DA’s maximum suggested retail price (MSRP) for premium grains, noting that it appears that there is a 10 to 12 percent profit margin per kilogram — which the lawmaker said is quite high.
“Don’t you think that’s too big? It seems that the markup is so high?” Enverga asked.
“Mr. Chair, if I may explain, based on what you mentioned earlier, there are importers, right? So let us say that is the landed price. And then there is a wholesaler, right? Then the wholesaler passes it to a dealer, then there’s the retailer. So when we looked at the system — of course the retailer you can categorize it into small retailers who consume 15 sacks in a day,” Perez said.
“So it means that if you have a profit of P5 per kilogram, then you sell 25 kilograms, 200 kilograms, then you will pay for market posts, the profit of P5 per kilogram is reasonable. So now that we computed it, when we looked at the (supply) chain, they would earn P2 each and then P5 for the retailer,” he added.
Enverga believes shortening the supply chain can make rice prices go down.
jilislot“Anyway I think for now that is the norm eh, right? But I think this is something — I hope you agree with me USec Asis — we need to address this, we need to shorten the supply chain, limit the added cost. I mean we do not think ill of people who want to earn money out of business, but for me that profit margin is too big,” he said.
“If I may just follow up with DTI, is this practice right for the consumers?” he asked.
“Yes, Mr. Chair (but) Mr. Chair is shortening the value chain; yes po, we agree that it will redound to the benefit of the consumers,” Carbonell responded.
The Quinta committee is still discussing issues involving rising prices of goods, particularly rice. Earlier, the DA said it will implement MSRP for premium grains, believing that making high-class varieties cheaper would also impact regular-milled rice.
The MSRP would then be reviewed monthly to consider factors affecting prices.
READ: DA sets imported rice price cap at P58/kg
During the campaign season for the 2022 national elections, part of President Ferdinand Marcos Jr.’s promise was to bring down rice prices down to the P20 to P30 per kilogram range.
READ: Bongbong Marcos vows to bring down price of rice
"This series is not just about the two teams playing; it's about reviving the spirit of hockey in Delhi. We hope this will inspire more young players from the region to take up the game," Harmanpreet stated in a press release issued by Hockey India.
Hockey India President Dilip Tirkey expressed his enthusiasm and stated: "This bilateral series against Germany will be a remarkable showcase of world-class hockey. Both India and Germany have a rich history in the sport, and this series will give fans an opportunity to witness an intense competition between two of the most formidable teams in the world.
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Despite rice prices skyrocketing in the middle of 2023 — which forced the President to impose a price cap on regular and well-milled rice — administration allies and Marcos himself maintains that attaining this goal is still possible.filibet
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