The Department of Agriculture (DA) is preparing to implement a nationwide suggested retail price (SRP) of ₱53 per kilo for local rice as part of ongoing efforts to keep prices of the staple at a reasonable level.

Agriculture Secretary Francisco Tiu Laurel said in a statement on Tuesday, May 19, that he had secured the backing of industry stakeholders to implement an SRP for locally produced well-milled and regular-milled rice.

“I’ve consulted rice millers and industry groups, and ₱53 per kilo is acceptable,” he said, noting that the measure aims to strike a balance between farmers’ profits and consumers’ budgets.

The DA said the corresponding memorandum detailing the SRP will be released soon.

Tiu Laurel confirmed to Manila Bulletin that the policy will be applied nationwide instead of the previous plan to implement different SRPs for each region based on prevailing price conditions.

Since the SRP will not impose restrictions, he said there is currently no issue with applying the policy across the country.

The SRP will essentially serve as a guide for consumers on how to identify fair local rice prices, which differs from the price cap imposed on imported rice that requires strict compliance.

On the ₱50-per-kilo price ceiling on imported five-percent broken rice, Tiu Laurel said full enforcement will begin next week to give retailers and consumers time to adjust.

The policy was introduced last week through Executive Order (EO) No. 118 to prevent market abuse involving rice, one of the major drivers of inflation.

Amid criticism that the price cap is squeezing the supply chain, the DA chief said the measure was crafted to ensure there is enough room for reasonable markups from importer to trader to retailer.

With current landed import costs at ₱37 to ₱38 per kilo, he noted that the price cap also accounts for costs beyond import value, including transport, handling losses, and market variability.

“We are ensuring consumers get affordable rice while traders and retailers remain viable. The goal is balance, not disruption,” Tiu Laurel said. “At ₱50, everyone in the chain should still earn.”

The DA will help retailers access fairly priced imported rice to support compliance with the policy, while field teams will be deployed to monitor implementation, he added.

“No one should be profiteering in the whole value chain, especially during this period. The price cap will run for 30 days, and we hope everyone cooperates because the country is struggling,” Tiu Laurel said.

Earlier, Tiu Laurel said he expects the price cap to extend beyond its 30-day window, potentially lasting for up to two more months amid ongoing uncertainty in prices caused by the current conflict in the Middle East.