Imported rice MSRP drops to ₱49/kilo

The maximum suggested retail price (MSRP) for imported rice will be lowered from ₱49 per kilo to ₱45 beginning March 31, according to Agriculture Secretary Francisco Tiu Laurel.

- DEXTER BARRO II and BETHEENA UNITE

In a statement, Laurel said the MSRP was reduced following the continued decline in global rice prices.

“At this level, the retail price of imported rice has now decreased by ₱19 per kilo compared to its price before we implemented the MSRP on Jan. 20,” he explained.

Before the price ceiling was imposed, rice prices were monitored to remain high despite a stronger peso and last year’s rice tariff cuts from a record 50 to 15 percent.

Imported rice, in particular, was sold within the range of ₱62 to ₱64 per kilo.

This prompted the DA to impose an initial limit of ₱58 per kilo in a bid to maintain rice’s affordability for consumers while upholding the profitability of the rice industry.

“The implementation of the MSRP followed consultations with industry stakeholders to ensure that price reductions would not destabilize the rice industry or compromise food security,” said Laurel.