In general, the results of this study suggest that price symmetry (in terms of speed and magnitude) exists at all levels of the rice market with or without heavy government intervention. Symmetric price transmission in rice industry can be explained by the longer storage rate of rice and less level of processing involved in rice production. Hence there is no incentive for traders to exercise market power. In addition, farm price accounts for most of the variability in wholesale and retail prices in both of the subperiods. Further, wholesale price explains more of the retail price' variations in the rice liberalization regime than in the period of heavy government control in the industry.