MANILA, Philippines – The Department of Agriculture (DA) is lowering the maximum suggested retail price (MSRP) for imported rice from P58 to P55 per kilo starting Wednesday, February 5.
“Starting tomorrow, the MSRP for 5% imported rice will now be sold at P55 per kilo,” said DA spokesman Arnel de Mesa in a press briefing on Tuesday, February 4.
“And then, by February 15, the MSRP will now be nationwide,” he added. The MSRP is only in effect in Metro Manila.
The agriculture department set the MSRP to curb prices of imported rice, which remained high despite the tariff cut from 35% to 15%.
Agriculture Secretary Francisco Tiu Laurel Jr. previously said when the MSRP was first set that the objective was to get rid of imported rice sold at P60/per kilo in the market.
According to De Mesa, the agency plans to lower the MSRP further following periodic reviews.
The implementation of a lower MSRP comes two days after the DA announced a food security emergency on rice to enable the NFA to release its rice buffer stocks.
As of February 1, prices of imported rice ranged from P38 (regular-milled) to P61 (special).
President Ferdinand Marcos Jr. had promised during his 2022 campaign to lower the price of rice to P20/kilo.
– Rappler.com