IT MAY take a few more days before consumers feel the relief of lower suggested retail price (SRP) on rice, although prices in the market are now beginning to decline with the start of the local harvest season.
Agriculture Secretary Emmanuel Piñol said on Tuesday that stakeholders requested a three-day buffer before the implementation of the SRP on rice varieties that was originally intended to begin yesterday.
This postponement is to give retailers time to prepare their outlets and signages, the secretary said.
The reform is expected to start on Oct. 27, Saturday, wherein rice varieties will be limited to only four with corresponding price points.
Local regular-milled and well-milled rice will be sold at no more than P39 and P44 a kilo, respectively, while imported variants will be limited to well-milled and premium rice and will be priced not higher than P39 and P43 a kilo, respectively.