MANILA – Officials of the Department of Agriculture held a surprise inspection at the Trabajo Market in Manila to further ensure compliance to the 'maximum SRP' of imported rice that took effect on Monday.

They found out that rice retailers are selling up to P65 per kilo, which is way above the P58 a kilo limit set by the agency. The retailers had to adjust their prices on the spot to be able to comply in the new policy.

"May nakita tayo na sobrang taas na presyo ng bigas. Hopefully magkaroon ng aksyon sa City Hall. Yung nagtitinda naman nagsabi na ibababa na nila," said Assistant Secretary Arnel de Mesa, spokesperson of the DA.

(We have seen some retailers selling rice at much higher prices. Hopefully City Hall will act on it. But the retailers themselves promised they would lower the prices.)

Retailers said these are old stock they got from suppliers at higher prices and they are just using up the stocks. When these run out, they said they will follow our maximum SRP.

Rice importer Orly Manuntag told ABS-CBN News that the P58 per kilo MSRP on imported rice is reasonable as prices in the world market is indeed down.  Manuntag cited the lifting of India's export ban and the harvest season as factors on the lowering of world prices. 

The MSRP took effect on January 20 as a tool to curb profiteering from traders.