00:00It will be implemented within two months of P45 per kilo, the maximum suggested retail price for imported rice.
00:07This was announced by Agriculture Secretary Francisco Chu Laurel Jr. after yesterday's viral of the current lowest MSRP.
00:16Explained by Kalihim, the increase in MSRP of imported rice is a far-fetched protection for local farmers
00:23from the unreasonable buying price of some traders during this time.
00:28It is possible for traders to buy local rice early if the MSRP of imported rice is lowered.
00:38That's why Kalihim urged traders to buy rice from our fellow farmers at the right price.
00:48My initial idea was to lower the MSRP to 42.
00:53But with what's happening to our rice prices during harvest season, it's going down.
01:02Maybe it's because they're afraid to buy from higher traders or at the right price.
01:07Maybe they're thinking of lowering the price.
01:12So now, I think it is prudent that we will stop at MSRP 45 for the next two months until harvest season is over.
01:23Then we can see the situation so that traders and rice mills that buy from farmers of rice will not speculate or be afraid.
01:34And they will buy rice at a price that our farmers will not lose.
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