MANILA — The Department of Agriculture (DA) has announced the imposition of a P55 per kilogram maximum suggested retail price (MSRP) for imported rice, effective today, February 5. This marks a P3 reduction from the previous price set on January 20.
This move follows Monday’s declaration of a food security emergency, which enables the government to release rice buffer stocks held by the National Food Authority (NFA) in a bid to lower rice prices. Despite a recent tariff reduction on imported rice, prices have remained high in markets across the country.
Agriculture Secretary Francisco Tiu Laurel Jr. stated that the MSRP could further decrease in the coming weeks, potentially dropping below P50 per kilogram by early March. “After this reduction, we plan to lower it further to P52 a kilo by mid-February and then to P49 per kilo two weeks after,” he said. “This will reflect the lower global prices of rice and the reduced tariff.”
The introduction of an MSRP follows consultations with rice industry stakeholders, including importers and retailers, to balance consumer relief with the needs of the domestic rice industry. With this new ceiling, the DA aims to stabilize rice prices and mitigate inflationary pressures on essential goods.
The decision is seen as a key measure in managing food price inflation, particularly for rice, with the government hoping to ensure that staple food remains affordable for low-income families.
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