THE Department of Agriculture imposed on Monday suggested retail prices (SRP) for selected agricultural products being sold in Metro Manila.

Among items subjected to the SRP scheme is regular-milled rice, which suggested price was pegged at P39 per kilogram (kg).

Also included in the SRP are milkfish or bangus (P150 per kg), tilapia (P100 per kg), galunggong or round scad (P140 per kilo), red onion (P95 per kg), white onion (P75 per kg), imported garlic (P70 per kilo) and local garlic (P120 per kilo).

"The purpose of SRP actually is not to bring down the price but to stabilize the price. This means we prevent abnormal movement of prices in the market and destabilizing our consumers,” Agriculture Secretary Emmanuel Piñol told reporters.

The DA, the Department of Trade and Industry and local government units will take charge of the monitoring of retail outlets for the proper implementation of the SRP scheme.

Piñol said imposing suggested prices on goods protects consumers from profiteering by some retailers. With the SRP scheme in place, retail prices can only go up by a maximum of 10 percent from the suggested price.

He cited as an example the price adjustment in rice, which has an SRP of P39. This means that a retailer may sell ordinary, regular-milled rice at not cheaper than P39 and not higher than P42.90, given the 10 percent ceiling.

"When you exceed it (10 percent), you could be charged with profiteering,” Piñol said.

Retailers found guilty of profiteering will be penalized with a fine of P1,000 to P1 million.

Piñol stressed that location is a factor in setting SRPs. Areas near ports will have lower prices of fish while those near farms would have lower vegetable prices.

The DA order on SRPs is pursuant to the Republic Act 7581 or Price Act.

with FRANCIS EARL A. CUETO