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The Philippine Competition Commission held a dialogue with the Philippine Rice Importers’ Association on May 20 to ensure fair market competition with the P50 per kilo retail price cap currently in place
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The PCC Competition Enforcement Office noted that while their main objective is to deter violations, they are open to collaboration over strict policing and assistance to help the industry comply
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At the same time, the CEO warned rice importers against cartel conduct and reminded them to make independent decisions
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The rice importers’ group affirmed the its commitment to food security and a stable rice supply
The Philippine Competition Commission (PCC) held a dialogue with the Philippine Rice Importers’ Association (PRIA) on May 20 to ensure fair market competition with the P50 per kilo retail price cap currently in place.
In a statement, PCC said Competition Enforcement Office (CEO) director Christian Loren de los Santos noted during the meeting that while their main objective is to deter violations, they are “open to collaborative partnership over strict policing, offering clear guidelines and technical assistance to help the industry comply with fair market principles.”
At the same time, the CEO warned market participants against cartel conduct, reminding the members of the PRIA “to make all commercial decisions independently and avoid exchanges of sensitive commercial information such as price, quantity, and import volume.”
The price cap on imported rice is contained in Executive Order No. (EO) 118, signed by President Ferdinand Marcos Jr. on May 13 and in effect for 30 days. It sets a nationwide selling price cap of P50/kg on imported rice (5% broken) for 30 days to keep the staple affordable for consumers.
The EO mandates the PCC, in coordination with the Department of Trade and Industry and Department of Agriculture, to “take appropriate measures against cartelization, abuse of dominance, and other anti-competitive practices to ensure fair market competition and protect consumer welfare.”
PRIA president Raffy Herrera affirmed the association’s commitment to food security and a stable rice supply during the meeting with the PPC.
PRIA, which groups 60 importers, suggested that the PCC hold a similar dialogue with retailer organizations to better understand their logistical costs and align their pricing structures.
READ: BOC chief orders streamlined procedures for releasing rice imports
