SRP for rice takes effect

The Department of Agriculture and Department of Trade and Industry formally launched the suggested retail price (SRP) of rice on Saturday.

The SRP for local regular milled rice and imported well milled price is now set at P39/kilo.

Local well milled rice is set at P44 per kilo.

Meanwhile 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 however is exempted from SRP.

SRP on rice as imposed by @DtiPhilippines and DA: regular milled rice P39/k
imported well milled rice P39/k
local well milled rice P44/k
imported premium grade 2 P40/k
imported premium grade 1 P43/k
local premium grade rice P47/k
special rice NO SRP @gmanews pic.twitter.com/3CnjbE4Qcg

— Bernadette Reyes (@bernadettereyes) October 26, 2018

DA Secretary Manny Piñol warned unscrupulous traders that they will face stiff penalties should they fail to comply with the SRP.

"Ang unang mangyayari sa 'yo, tatanggalan ka ng lisensiya. Pangalawa, puwede kang mabilanggo mula apat na buwan hanggang apat na taon. Under the Price Act, puwede ka patawan ng penalty na P2,000 hanggang isang milyon and of course mahihinto ka sa negosyo mo," he said.

WATCH: Sec. Pinol says authorities will strictly impose penalties versus unscrupulous traders who will not comply with the SRP on rice @gmanews @gmanewsbreaking pic.twitter.com/87Sqx6s9iy

— Bernadette Reyes (@bernadettereyes) October 27, 2018

Since the SRP guide was published only on Friday, Piñol explained they can only start going after erring traders in two weeks' time.

"Wala ng consideration sapagkat napag-usapan na namin ito. As early as September pinag-usapan na ito. In fact na-delay nga 'yung implementation ng SRP kasi pinagbigyan namin sila. May nabili silang bigas na mahal at gusto nilang i-unload.
There is a 15-day publication period required by law bago kami makapag-implement ng penalties and sanctions and it is published by the UP Law Center yesterday so ang mga penalties and sanctions could only be implemented 13 days from now," Piñol said.

Consideration however will be extended regarding the changing of the labels in rice sacks.

"'Yung pagpapalit ng sako will be effective until the end of December or after December so next year mag-uumpisa nang palitan 'yung mga sako. Wala na 'yung mga pekeng pangalan," the DA secretary said.

"Walang justification para magbenta ka ng bigas na P100," he added.

DTI Sec. ?@monlo?, DTI Sec. Pinol grace the launching of the SRP and prescribed labelling for milled rice at Commonwealth Market ?@gmanews? ?@gmanewsbreaking? pic.twitter.com/vrviirsOtB

— Bernadette Reyes (@bernadettereyes) October 26, 2018

Piñol was joined by Trade and Industry Secretary Ramon Lopez at the launching on Saturday at Commonwealth Market in Quezon City. —KG, GMA News