By Stephanie Sevillano

MANILA – The Department of Agriculture (DA) said Thursday it would remove brand labels on imported rice to combat alleged price manipulation in local markets.

In a statement, DA Secretary Francisco Tiu Laurel Jr. said the plan will cover “premium” and “special” imported rice labels which are being used to justify the increase in prices.

“After conducting a series of market visits, we now have reason to believe that some retailers and traders are intentionally confusing Filipino consumers with branded imports to justify the high prices of rice,” he said.

Tiu Laurel said local rice would be exempted from the brand label removal to protect farmers and traders.

The decision was made after the DA and the Department of Trade and Industry (DTI) conducted joint market inspections on Dec. 19.

During the event, Tiu Laurel said he noticed the high retail prices of branded rice which show possible “profiteering” of some rice importers.

Meanwhile, DA Assistant Secretary Arnel de Mesa said the plan may be implemented next year.

Other plans to lower the price of imported rice include invoking a food security emergency under the amended Rice Tariffication Law which will allow the release of buffer stocks from the National Food Authority (NFA); and possible rice importation by the Food Terminal Inc. (FTI) to compete with private importers.

In dealing with profiteering, Tiu Laurel ordered the DA’s legal division to look into the Price Act and explore possible actions on profiteering in retail rice. (PNA)

Published Date: December 26, 2024