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Philippines sets labels and suggested prices for rice

14/11/2018,

The Agriculture and Trade Departments set standardized labels and Suggested Retail Prices (SRP) for rice, which became effective on 27 October. Rice would only be identified as regular milled, well milled, premium and special, including the specification whether it is local or imported. The price of local regular milled rice was set at PHP39 (USD 0.73) per kg; local well milled at PHP44 (USD 0.83) per kg; local premium at PHP47 (USD 0.88) per kg; imported well milled at PHP39 (USD 0.73) per kg and imported premium at PHP43 (USD 0.81) per kg. There will be no SRP for special rice. Traders and retailers not complying with the new guidelines on labelling and SRPs would face sanctions. The measure was implemented in an effort to tackle the high level of prices in the country (FPMA Price Warning).

Country: Philippines