PRICE OF RICE COULD DROP TO P49/KG

By Celeste Tamayo

MANILA — Agriculture Secretary Francisco Tiu Laurel announced on Monday (Feb. 10, 2025) that commercial rice prices could drop to P49 per kilo by March 1.

“By February 15, our MSRP will be P52. By March 1, hopefully, they will have bought new stocks from Vietnam, Myanmar, or Cambodia at a lower price, so our MSRP will be P49,” Laurel said.

“Premium five-percent broken rice, which was previously P64, should drop to P49 by March 1 as the MSRP,” he added.

In a Palace press briefing, Laurel explained that new stocks of rice are expected to arrive from Vietnam, Myanmar, or Cambodia.

The current Manufacturer’s Suggested Retail Price (MSRP) is P55 per kilo, following the Department of Agriculture’s approval to allow the disposal of old stocks.

Laurel stated that the price drop is partly due to traders and retailers responding to the government’s call to reduce excessive profits and align prices with the global market.

ia/mnm