DA tackles high rice prices
Agriculture Secretary Francisco "Kiko" Tiu Laurel Jr. bares plans to come up with a “maximum suggested retail price” on imported rice before the end of January to address spiking retail prices, in an interview on Monday (Jan. 6, 2025). Tiu Laurel said he would request a meeting with the Department of Trade and Industry, Bureau of Internal Revenue, National Bureau of Investigation, Philippine National Police, and Department of the Interior and Local Government to discuss possible actions on some importers and retailers allegedly involved in “profiteering.”
Video by PNA
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Agriculture Secretary Francisco "Kiko" Tiu Laurel Jr. bares plans to come up with a “maximum suggested retail price” on imported rice before the end of January to address spiking retail prices, in an interview on Monday (Jan. 6, 2025). Tiu Laurel said he would request a meeting with the Department of Trade and Industry, Bureau of Internal Revenue, National Bureau of Investigation, Philippine National Police, and Department of the Interior and Local Government to discuss possible actions on some importers and retailers allegedly involved in “profiteering.”
Video by PNA
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NewsTranscript
00:00There should be no more 60 pesos imported rice that can be seen in the market, right?
00:05And it should be... 60 pesos imported rice is already profiteering, in my opinion.
00:13And we're now trying to establish what should be the maximum suggested retail price.
00:19So we'll be coming up with the maximum suggested retail price system very soon.
00:24By the end of January, hopefully, I'll have something.
00:27It's not a suggestion, it's like we are saying that this should be the maximum price.
00:34But it's not the price cap.