DA-RFO7 endorses new price ceilings on rice

The Department of Agriculture-Regional Field Office (DA-RFO) 7 had endorsed to the Bohol Provincial Price Coordinating Council (BPPCC) the new price ceilings of Regular-Milled Rice (RMR) and Well-Milled Rice (WMR) at P42 and P45 per kilogram (kg.) respectively, starting last Tuesday amid the implementation of price freeze order to basic commodities in this time of crisis.
DA-RFO7 Regional Executive Director Atty. Salvador D. Diputado said the released new price ceilings of RMR and WMR was in response to the formal request of the BPPCC during their meeting held last April 28, 2020, to come up with the new pricings of rice considering the recent high farm gate price of palay in Bohol that reached up to P25 per kilogram.
Atty. Diputado said that it was noted recently by the Price Monitoring Joint Task Force that the prices of RMR and WMR in markets had gone beyond the price ceilings set under the “Price Ceilings, Suggested Retail Price and Price Freeze of Basic Commodities in the Province of Bohol” as enforced by Executive Order No. 20, Series of 2020 signed by Governor Arthur C. Yap on March 25, 2020.
The DA-RFO7 Executive Regional Director said that the price of RMR increased from its price ceiling at P38 to P43/kg., while WMR increased from its price ceiling at P43 to P45/kg.
He said the new price ceilings on rice are based on the following: existing stock of rice among traders is good for 19 days (OPA data as of April 15, 2020), hence it would last until May 4, 2020, new stocks are expected to be out starting last Tuesday; the new price agreed by rice traders during the meeting conducted last April 24, 2020, is P2,000 per bag for RMR and P2,100 per bag for WMR;
Retailers usually add P100 per bag as profit margin; hence the resulting price will be P42/kg. for RMR and P45/kg. for WMR; and as per request from rice traders, DA recommended that the buying price of palay (farm gate price) should not exceed P21 to P22/kg. in order that the price of milled rice will be within the set price ceilings during this time of crisis brought about by COVID-19.
Last week, the BPPCC warned traders not to violate the price freeze order by the government.
Assistant Provincial Agriculturist Larry M. Pamugas said the BPPCC chaired by Gov. Yap would not hesitate to apprehend the violators to protect the rights of the consumers who have been bracing the impact in implementation of the community quarantine. (Atoy Cosap)