Global woes halt DA rice price cut

The Department of Agriculture (DA) is pausing its plan to lower the maximum suggested retail price (MSRP) of imported rice next month, citing global market volatility driven by escalating tensions in the Middle East.

- By DEXTER BARRO II

The DA initially planned to lower the MSRP of five-percent broken imported rice from the current P45 per kilo to P43 beginning July 1.

“We'll likely delay the rollout by a month or two to gain a clearer picture of where global prices are heading,” said Agriculture Secretary Francisco Tiu Laurel ina statement.

Laurel cited the “heightened geopolitical risks” following the United States’ airstrikes on three nuclear sites in Iran, which could threaten to expand Iran’s conflict with Israel across the region.