DA, DTI to formulate SRPs on agriculture commodities
The Department of Agriculture (DA) and Department of Trade and Industry (DTI) will lead the formulation of Suggested Retail Price (SRP) on basic agriculture commodities like rice, vegetables, and fish.
This is to avoid overpricing in the market amid concerns on the rising prices of basic crops due to Tax Reform Acceleration and Inclusion (TRAIN) law.
“Basically, we agree that there should be an SRP on basic commodities like rice, vegetables and fish. As a whole, the different sectors supported the idea of having an SRP,” Agriculture Secretary Emmanuel Piñol said.
“The reason why we invited the stakeholders [in a consulation meeting is] because we asked them how much would they need to produce one kilo of [certain commodity] and how much the farm grade of rice is… and so that we will be able to come up with the computations on how much we should dictate to the market,” he added.
The government intends to come up with the SRPs by next week.