SRP on rice set; traders warned
The Department of Agriculture (DA) and the Department of Trade and Industry (DTI) yesterday set suggested retail prices (SRP) on rice with a warning against unscrupulous traders.
Standard price for local regular milled rice and imported well milled price should be at P39 per kilogram.
Price of local well milled rice, on the other hand, is set at P44 per kilo while imported premium grade rice will range from P40 to P43 per kilo.
The SRP of premium grade rice is at P47 per kilo.
Special rice is not covered by SRP.
Agriculture Secretary Manny Piñol warned traders will face stiff penalties if they will not comply with the SRP.
“The first thing that we will do is to cancel their licenses should they fail to comply,” Pinol said.
“(Trader) can also be jailed from four months up to four years and under the Price Act, those who will violate will be slapped with P2,000 up to a million pesos in penalties,” Pinol added.
Since the SRP guide was published only on Friday, Piñol explained they can only start going after erring traders in two weeks’ time.
“We will be strict in implementing this and we will give no considerations since we have been discussing about this since September,” Pinol said.
“There is a 15-day publication period required by law before we implement the penalties and sanctions and it is published by the UP Law Center yesterday,” Pinol added.
and Gladys Mae Ablon
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