The Department of Agriculture (DA) has announced that, effective March 1, the maximum suggested retail price (MSRP) for imported rice will be reduced to P49 per kilogram. This adjustment marks the first instance since the MSRP’s introduction six weeks ago that the price has fallen below the P50 threshold.
Agriculture Secretary Francisco Tiu Laurel Jr. specified that the new MSRP will be applied selectively, targeting Metro Manila, key cities, and other urban centers. He noted that in many provincial areas, imported rice prices are already below the MSRP, allowing for a more focused implementation in urban regions.
The MSRP was initially set at P58 per kilogram on January 20 as a non-coercive measure to align retail prices of imported rice with declining global market rates. This initiative followed President Ferdinand Marcos Jr.’s decision in July to reduce rice import tariffs from 35% to 15%.
Prior to the MSRP’s establishment, imported rice with 5% broken grains was priced between P62 and P64 per kilogram. The DA has indicated that it will continue to assess market conditions to determine the feasibility of further MSRP reductions. As of February 21, the landed cost of 5% broken rice was reported at $490 per metric ton.
In addition to adjusting the MSRP, the DA has declared a food security emergency concerning rice, enabling the National Food Authority to release its buffer stocks to the market. This measure aims to increase rice supply and stabilize prices further.
The DA will continue to monitor both domestic and international rice markets to ensure that pricing strategies remain responsive to current conditions and support consumer affordability.
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